Dubai – Sharikat Mubasher: Synapse Analytics, a pioneering startup empowering businesses to leverage AI for better decision-making, announced successfully closing its latest funding round, securing $2 million led by 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, according to the company’s press release.
Synapse Analytics is part of Hub71, Abu Dhabi’s global tech ecosystem. 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.
Ahmed Abaza, Co-Founder and CEO of Synapse Analytics commented: “AI isn't just a tool—it's the catalyst for making financial inclusion a reality in the MEA region. Our technology is designed to help financial institutions make their services inclusive, accessible, affordable, convenient, empowering, and safe. Imagine accessing financing as easy as signing up for an app with your email. A world where your bank anticipates your needs, making financial services as personalized as your morning coffee. As we usher in this new AI-driven era, we're crafting the future of finance in a region characterized by a young population, growing economies, and a rapid adoption of digital finance. We see MEA becoming a pioneer in the financial services world, and we couldn't find a better partner to join us on this mission than the Silicon Badia family.”
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.
Synapse Analytics was founded in Cairo, Egypt, with its regional hub in Abu Dhabi, UAE. The HUB71 Startups has garnered numerous accolades, including being recognized among the top 100 companies leading the 4th Industrial Revolution by the World Economic Forum.
Additionally, its reputation as a center of AI excellence is highlighted by the significant interest in its internship programs, attracting over 12,000 talented applicants annually. The company is committed to transforming the financial sector by enabling financial institutions to harness the power of AI and pioneer the new age of financial services.