Bengaluru-based fintech startup Signzy announced that it had raised $5.4 million from Arkam Ventures and Mastercard.

Signzy existing investors, Kalaari Capital and Stellaris Venture Partners, also participated in the current round.

As per the startup, it will use the funds to strengthen its AI research and product enhancement. Signzy is also planning for sales team expansion to address the surge in demand from global and India clients.

Founded by IIT graduates and serial entrepreneurs Ankit Ratan, Ankur Pandey, and Arpit Ratan in 2015, Signzy is an AI-powered RPA platform for financial services. Signzy offers a digital onboarding solution for banks, NBFCs and other financial institutions.

Talking about the funding, Ankit Ratan said,

“We have worked hard to keep up with the growing demand. This fundraise is a timely boost in our efforts to scale up our AI capabilities and to tap an ever-widening global market opportunity. We’ll also be using these funds to deepen our customer engagement.”

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