Synapse Analytics, a pioneering startup empowering businesses to leverage AI for better decision-making, announced the successful completion of its latest funding round, securing $2 million led by Jordan’s Silicon Badia and Hub 71, Abu Dhabi. This strategic investment will enable Synapse Analytics to expand its AI technologies across the GCC and Africa, driving transformative change in the financial sector.
The startup is poised to address a critical socioeconomic challenge, which is financial inclusion and access by providing cutting-edge AI software for financial decisions, including credit scoring, cross-selling, dynamic pricing, and eKYC/eKYB (Know Your Customer/Business) processes.
Synapse Analytics’ suite of solutions includes:
Konan the flagship Machine Learning Operations platform, that enables the easy integration and adoption of AI, now is focused on helping financial institutions’ credit risk, pricing, product matching and building workflows, while easily integrating machine learning within existing decision rules. Konan’s pre-built models and data enrichment features make it valuable for optimizing risk assessment, increasing loan approval accuracy, and expanding customer coverage.
Doxter offers a comprehensive document extraction and process automation platform, allowing clients to process and store verifiable data from diverse documents, such as IDs, financial statements, and legal documents, and is highly customizable to meet specific needs. For MSMEs, Doxter also offers full Retrieval Augmented Generation (RAG), which makes onboarding and decision-making much faster and easier.
Galal El Beshbishy, Synapse Co-Founder and COO, added, “One of the most significant aspects of our technology focuses on “dark matter” of AI, in which AI needs to be integrated seamlessly with existing data sources, core banking, and loan systems. Our core competency lies in successfully shipping AI workloads to production in a safe, secure, and controllable manner. With our solutions, financial institutions can quickly and confidently launch their AI-powered systems to approve more customers while maintaining rigorous risk management standards. We are shaping the future of financial decisions and are excited to continue driving innovation in this critical sector.”
Synapse Analytics has already established multiple partnerships with major banking product providers such as AWS, Crealogix, and TUMM, positioning itself as a key player in the region’s AI-driven transformation.
“We see many AI companies, but Synapse stood out for its proprietary technology that addresses critical pain points for financial institutions. Hamed Masri, Partner at Silicon Badia, also commented. The impact clients see on NPL rates and processing times speaks volumes about the strength of their product. We’re excited about the versatility of their tech in other verticals and believe there’s no better team to execute on the founders’ vision.”
