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SA-based AI-fintech startup secures R25 million in funding

The investment will go towards its international expansion drive


FinChatBot is a Johannesburg based South African fintech startup that develops AI-driven chatbots that help financial service providers acquire and retain new customers. The startup just secured R25 million in additional funding from three venture capital companies that comprise a French holding company, Compass Venture Capital (Mauritius-based), and Kalon Venture Partners(South Africa based).

The funding will expand the use of conversational AI solutions in the financial industry to West Africa and Europe. Antoine Paillusseau and Romain Diaz co-founded FinChatBot in 2016.

It’s worth pointing out that Compass Ventures Capital and Kalon Venture Partners previously invested R7 million in 2018. FinChatBot is expanding internationally after being shortlisted among seven international startups participating in the 8th edition of the NY-based accelerator programme, INV Fintech – a virtual accelerator hosting financial service companies while providing them with custom mentorship and business support.

FinChatBot serves over 20 top-tier financial service providers in banking, insurance, in selling their financial products without any human intervention. Notable clients are MTN, Hollard, Sanlam, MiWay, Santam, and Bidvest Insurance.


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