Berlin's Taktile raises $4.7 million via Index Ventures, Y Combinator, and others
Summary
Developing solutions aimed at accelerating the adoption of machine learning technology in the financial industry, Berlin-based Taktile has raised $4.7 million in a seed funding round led by Index Ventures. Recognising previously unseen indicators of creditworthiness, ML recommendations are providing financial institutions with the opportunity to underwrite more profitable loans. Likewise, relying on a vast amount of existing data, machine learning technology is able to accurately predict borrowers’ repayment behaviours, thus opening up completely new customer segments. One of the most highly regulated industries in the world, the financial sector faces a myriad of challenges when implementing new practices, particularly when they involve non-linear modeling techniques. By bringing together a team with deep business and technical expertise, we believe that our platform can assist enterprises to finally realize the power of ML,” explains CEO and co-founder Maik Taro Wehmeyer.