Grace Ashiru
Egypt-founded fintech infrastructure company Synapse Analytics has secured $13 million in Series A funding to expand its artificial intelligence-powered decision-making platform for financial institutions.
The investment round was led by Paris-based venture capital firm Partech, with participation from existing investors Algebra Ventures and Silicon Badia. The latest financing brings Synapse Analytics’ total funding to $17 million.
Founded in 2018 by Ahmed Abaza and Galal Elbeshbishy, Synapse develops AI infrastructure that helps banks, fintech companies and other financial institutions make faster and more informed risk decisions. Its technology is used across areas including credit scoring, customer onboarding, fraud detection, anti-money laundering and portfolio management.
A key part of the company’s offering is its ability to operate within a financial institution’s existing technology environment. Synapse says its software can be deployed on premises, through private or sovereign cloud systems, and even on isolated networks, allowing institutions to meet regulatory and data-sovereignty requirements.
The company currently serves banks, fintechs, non-bank financial institutions and telecommunications companies across the Middle East, Africa and Latin America.
Synapse plans to use the fresh capital to strengthen its engineering and commercial teams, accelerate product development and deepen its expansion into international markets.
The funding round also comes at a time when African AI startups are attracting growing attention despite receiving only a small share of the continent’s overall venture funding.
