Synapse Analytics, a pioneering startup that empowers businesses to leverage AI for better decision-making, announced the successful completion of its latest funding round, securing $2 million led by Silicon Badia and Hub 71, Abu Dhabi. This strategic investment will enable Synapse Analytics to expand its AI technologies across the GCC and Africa, driving transformative change in the financial sector.
As part of Hub71, Abu Dhabi’s global tech ecosystem, Synapse Analytics addresses critical socioeconomic challenges like financial inclusion and access by providing cutting-edge AI software for financial decisions, including credit scoring, cross-selling, dynamic pricing, and eKYC/eKYB (Know Your Customer/Business) processes.
Amid the Fintech and AI boom, Synapse’s robust and proven platform manages complex AI implementations. Financial institutions benefit from Synapse’s versatile technology, which offers deployment options including cloud, on-premise, and hybrid models.
Ahmed Abaza, Co-Founder and CEO of Synapse Analytics, commented, “AI isn’t just a tool—it’s the catalyst for making financial inclusion a reality in the MEA region. Our technology is designed to help financial institutions make their services inclusive, accessible, affordable, convenient, empowering, and safe.”
Synapse Analytics’ suite of solutions includes:
- Konan: The flagship Machine Learning Operations platform, helps financial institutions with credit risk, pricing, product matching, and building workflows while integrating machine learning within existing decision rules. Konan’s pre-built models and data enrichment features optimize risk assessment, increase loan approval accuracy, and expand customer coverage.
- Doxter: A comprehensive document extraction and process automation platform that processes and stores verifiable data from diverse documents, such as IDs, financial statements, and legal documents. It offers full Retrieval Augmented Generation (RAG) for MSMEs, making onboarding and decision-making faster and easier.
Galal El Beshbishy, Co-Founder and COO of Synapse Analytics, added, “Our technology focuses on the ‘dark matter’ of AI, integrating seamlessly with existing data sources, core banking, and loan systems. Our core competency lies in successfully deploying AI workloads to production in a safe, secure, and controllable manner. With our solutions, financial institutions can confidently launch AI-powered systems to approve more customers while maintaining rigorous risk management standards.”
Synapse Analytics has partnered with major banking product providers such as AWS, Crealogix, and TUMM, positioning itself as a key player in the region’s AI-driven transformation.
Hamed Masri, Partner at Silicon Badia, praised Synapse’s proprietary technology, stating, “Synapse stood out for its technology that addresses critical pain points for financial institutions. The impact on NPL rates and processing times speaks volumes about their product’s strength. We’re excited about the versatility of their tech in other verticals and believe there’s no better team to execute on the founders’ vision.”
Founded in Cairo, Egypt, with its regional hub in Abu Dhabi, UAE, Synapse Analytics has garnered numerous accolades, including being recognized among the top 100 companies leading the 4th Industrial Revolution by the World Economic Forum. The company is committed to transforming the financial sector by enabling financial institutions to harness the power of AI and pioneer the new age of financial services.
