LUMIQ, an AI-native FinTech company with offices in New Jersey, Singapore and Delhi NCR, has secured a strategic funding round to expand its automated decision-making platform across the United States and Southeast Asia.
The round was led by Bajaj Finserv, one of India’s largest and most diversified financial services groups, with continued backing from existing investor Info Edge Ventures. The capital will be directed towards four priorities: broadening go-to-market activity in the US and Southeast Asia; strengthening the capabilities of LUMIQ’s LiteCone platform; extending its AI agent workforce into more financial services functions; and developing a partnership ecosystem with cloud hyperscalers, AI laboratories, and core banking and insurance platforms.
LUMIQ’s LiteCone platform deploys AI agents capable of handling end-to-end decisions across insurance underwriting, credit assessment and claims adjudication. Rather than providing recommendations for human review, the platform delivers complete decisions cross-referenced to institutional policy and supported by full audit trails. Cases that fall outside standard parameters are escalated for human judgement, while routine decisions are handled entirely by the AI. The company processes millions of decisions annually across banking, insurance and capital markets clients in India, the US and Southeast Asia, and employs over 350 AI and data specialists.
Deployed at a leading life insurer, LUMIQ’s LEO underwriting agent autonomously handles 75 to 80% of cases with no human involvement, cutting policy issuance costs by around 25% and reducing turnaround times from several days to under eight minutes, operating around the clock with full auditability. The company positions LiteCone as able to convert a financial services role into a functioning AI agent within weeks.
LUMIQ was founded with the ambition of leading a single category: production-scale auto-decisioning for financial institutions. Its LiteCone platform and growing portfolio of AI agents cover roles including insurance underwriter, credit underwriter and claims adjudicator, combining domain expertise across banking, insurance and capital markets with frontier AI capabilities.
LUMIQ co-founder and CEO Shoaib Mohammad said, “Right now, thousands of customers are waiting for a policy to be issued, a loan to be disbursed, a claim to be adjudicated, because somewhere an FSI employee is drowning in decisions, held back by the risk of getting it wrong. Today, when e-commerce delivers the same day, banks and insurers still decide in weeks. We built LiteCone to take that burden: AI decides the routine cases, completely and accountably, so humans spend their judgment on the one case that actually needs it. This round lets us bring that to every financial institution in the markets that matter most.”
LUMIQ co-founder and chief product officer Vaibhav Dobriyal said, “LiteCone turns a real financial-services role into a working AI agent in weeks. Every agent we deploy is consistent, explainable, compliant, and auditable by design — not as an afterthought. This capital lets us go deeper on the platform and broader across roles. And through our cloud and AI lab partnerships, institutions will increasingly find LiteCone already embedded in the platforms they run today.”
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