Senso, an AI platform helping financial institutions improve client retention, has reportedly bagged $3m in its pre-Series A round.
Mendoza Ventures and BreakawayGrowth led the round, with additional support coming from Luge Capital, Rising Tide, Inovia Capital and BDC, according to a report from Crunchbase.
With the funds in the bank, the company hopes to accelerate the expansion of its operations and product offerings in the US, the article claims.
Senso claims to transform the fragmented data into interactions which can improve client experience. Financial institutions can enhance their decision-making and prioritisation for inbound and outbound contact channels.
A use case for its solution is the mortgage process. The company claims to that by optimising borrower retention across mortgage balance, clients can unlock millions of additional earnings and improve client interactions. Senso states it can predict eight out of ten borrower actions months in advance, reduce costs by 15% and increase portfolio profitability by 10%.
The company has raised a total of $4m, having previously raised around $1.1m in seed rounds in 2018 and 2019, the article claims.
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