Hub71 Startup Synapse Analytics Secures $2 Million in Funding to Expand its Footprint Across the GCC and Africa

Driven by the potential artificial intelligence (AI), the financial landscape in the Middle East and Africa (MEA) is on the brink of a major transformation. Synapse Analytics, a pioneering AI startup that is part of the Hub71 community, has secured $2 million in funding to accelerate its mission of using AI to revolutionize financial services and promote financial inclusion.

A Successful Investment Round

Synapse Analytics is developing cutting-edge AI software that empowers financial institutions to make smarter, faster, and more inclusive decisions.

Led by Silicon Badia, the funding round will fuel Synapse Analytics' expansion across the GCC and Africa. The company's innovative AI solutions are poised to address a critical socioeconomic challenge: providing accessible and inclusive financial services to underserved populations.

The MEA Advantage

The MEA region's young population, growing economies, and rapid adoption of digital finance make it a prime candidate for leading the AI-driven transformation of financial services. Synapse Analytics is well-positioned to play a key role in this exciting future.

Synapse Analytics' suite of solutions is designed to make financial services more efficient, affordable, and accessible to everyone, and includes:

• Konan: A machine learning operations platform that streamlines AI adoption for credit risk assessment, pricing, product matching, and workflow optimization.
• Doxter: A comprehensive document automation platform that extracts and verifies data from various documents, speeding up onboarding and decision-making processes.

Partnerships and Recognition

Synapse Analytics has already partnered with major banking product providers like AWS, Crealogix, and TUMM. The company has also received numerous accolades, including recognition among the top 100 companies leading the 4th Industrial Revolution by the World Economic Forum.

Supporting High-Potential Startups from Abu Dhabi

Synapse Analytics was selected to join Hub71 in 2023. Over the past five years, Abu Dhabi's global tech ecosystem has attracted some of the region's most promising startups, whose innovative technologies are transforming industries and creating lasting impact.

By joining Hub71, startups receive a suite of in-kind and cash for equity incentives, along with access to an ecosystem of market, government, and capital that facilitate access to funding and help founders grow and scale their ventures.