Commercial Bank International Powers Investment Round In zypl.ai
Summary
Commercial Bank International invested in zypl.ai as part of a post-seed bridge round ahead of a planned Series A later in 2024. zypl.ai sells an AI-as-a-service lending platform that uses synthetic data to improve credit decisioning and reduce default rates. The company says it has already crossed $1 million in annual recurring revenue and is working with more than 35 banks across 12 markets. CBI also moved from proof of concept to pilot and now full deployment of zypl.score in its retail lending operations through a software licensing agreement. The deal gives CBI a board seat and signals zypl.ai's push toward wider international expansion in banking and insurance.
Funding
Amount
$1.2M
Total raised
Date
April 5, 2024
Announcement date
Investors
Wyss Institute, THE WORLD BANK GROUP, SSE Labs
Lead investors
Company
zypl.ai
Funded company
Classifications
industries
Fintech & Banking
applications
Web and Content Management
AskAI Classifications
Labels
SaaS
Artificial Intelligence
FinTech Software
Linked Companies
Zypl
$1M to $5M