FairPlay Raises $10M in Series A Funding
Summary
The company intends to use the funds to grow its engineering and data science teams and expand its products into the insurance, marketing and fraud industries. Launched in 2020 by CEO Kareem Saleh, FairPlay provides algorithmic fairness solutions that empower lenders to identify and mitigate bias in their credit models, increasing profitability and financial inclusion. The first API provides Fairness Analysis, analyzing a lending model’s inputs, outputs and outcomes to identify if disparities exist and for which historically disadvantaged groups. The second API, Second Look, leverages Fairness Aware AI technologies to re-underwrite declined loan applications for borrowers from protected groups. The technology assesses whether applicants declined by the primary algorithm resemble ‘good’ borrowers in ways that weren’t previously considered.
Funding
Review available funding amount, funding date, investors, and linked company information related to FairPlay Raises $10M in Series A Funding in the interactive ISVWorld profile.