Financial institution big data solution Datasine has closed a ?1m seed round of funding.
Contributions to the investment came from C. Entrepreneurs, Sistema_VC and Force Over Mass.
London-based Datasine uses machine learning and AI capabilities for the financial industry to analyse transaction and biographical data to understand a consumer personality, needs, behaviour and life situation. Founded in 2015, the platform uses this information to help the financial institutions target products and services to individuals, or help create better investment portfolios.
This line of equity will help the company to increase its staff numbers, boost its capability for new clients, and further development for its platform including cloud processes.
BNP Paribas Cardif head of startups relations and investments Thibaut Schlaeppi said, ?Sistema_VC shares the vision that application of machine learning for solving challenging problems is extremely impactful for both business and society. Proper customer relationships are fundamentally important in the modern reality.
?DataSine applies machine learning and psychological techniques to bring personalisation of communication with customers to an absolutely new level. We believe DataSine technology can be a game changer for banking, telecom and retail industries.p>
Datasine was part of TechStars London accelerator last year.
Last month, Sistema led the investment of around $10.5m into Lendingkart Finance, with the capital set to help the company with increasing its loan-book and boost its technology and analytics abilities.
Funding in UK FinTech has been back on the rise in 2017, following a decline at the end of last year. While funding levels in Q2 2017 were not as high as the previous quarter, there were five more deals completed.
Copyright ? 2017 FinTech Global
