Stratyfy, a machine learning solutions innovator that mitigates risk and enables inclusive lending for financial institutions, has bagged $10m in funding.
The round was co-headed by Truist Ventures and Zeal Capital Partners and saw participation from The 98, FIS, Mendon Venture Partners and Barry Glick.
Stratyfy claims it is on a mission to accelerate financial inclusion by providing greater transparency and less bias to critical financial decisions that impact millions of people.
The firm’s patented machine learning platform enables financial institutions to instantly assess credit risk, fraud, and bias, allowing traditional banking services to safely open doors for underbanked consumers and drive impact at scale.
Stratyfy plans to use the new funding to fuel innovation that uniquely addresses the challenges financial institutions face when adopting AI-driven decision-making.
Stratyfy CEO and co-founder Laura Kornhauser said, “Stratyfy is growing fast as financial institutions recognize the urgent need to improve transparency and reduce bias in their decision processes. With increased adoption of AI and machine learning, transparency and controls around these solutions are essential so that the biases of our past do not encode into our future.
“Our investors share our vision and understand the complex needs of our customers. We are uniquely positioned to address these needs with our proven technology and talented team.”
Right-Hand Cybersecurity, a firm focused on human risk management for cybersecurity, has scored $5m in a Series A funding round.
Keep up with all the latest FinTech news here.
Copyright © 2023 FinTech Global
