Galytix nets funding as it looks to build R&D team in Czech Republic

Galytix, an AI-powered FinTech that integrates data ecosystems for global financial players, has closed a fresh batch of funding, alongside the appointment of a new COO.

With the fresh equity, Galytix hopes to bolster its market presence across Europe, with plans to expand operations in Switzerland, the Czech Republic and Luxembourg.

Part of its expansion plans include establishing new R&D divisions around the world, with a new one planned for Prague, Czech Republic, which it hopes to complement its existing R&D department in Gurgaon, India.

The FinTech company has named Rupak Ghose as its new COO. Ghose has more than 20 years’ experience advising senior managers, investors, boards, regulators and industry bodies.

Prior to this role, Ghose served as group head of strategy at ICAP/NEX, where he helped transform the business into a FinTech leader and generating shareholder returns of 250%, it said.

This is not the first senior hire for Galytix this year. The company recently named Jeff Tilson as its group chief commercial officer.

Galytix digitises manual and data heavy processes to create a connected data ecosystem. Its platform leverages AI-driven predictive algorithms to send early warning signals to business experts in banks, insurers and asset managers so they can make better informed risk and commercial decisions.

The company claims its harmonisation of data from any internal or external sources ensures efficient and high-speed operations.

Galytix CEO Raj Abrol said, “We launched Galytix because we saw a significant opportunity for banks, insurers and asset managers to generate growth and capture efficiency gains from replacing legacy in-house systems with an end-to-end data platform.

The firm is entering the scale up stage with this expansion of product capabilities and infrastructure. I am delighted that Rupak will join our executive management team following the addition of Jeff. Rupak is a recognised leader in the fintech and data sector with a track record of generating significant value for shareholders and clients.”

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