Israeli fintech startup Personetics, a global provider of data-driven personalization and customer engagement solutions for banks and financial services providers, raised $85 million of growth funding invested from Thoma Bravo, a leading software investment firm, in December. This means that $160 million of growth funding has been secured by the fintech startup secured by Personetics in the past 10 months.
The Israeli fintech startup raised another $75 million in growth funding from Warburg Pincus LLC in February of 2021. Personetics is a provider of customer-facing AI solutions for financial services and the company behind the industry’s first Self-Driving Finance platform.
We raised $160 million in 10 months. Now we’re going to…
* Expand existing client relationships
* Grow into additional segments within banking
* Penetrate new markets
* Capitalize on Open Banking/Open Finance
Join the journey to Self-Driving Finance: https://t.co/jtdFLhZb6a
— Personetics (@personetics) January 20, 2022
Forbes explains that “Self-Driving” is about autonomous finance, the concept that your finances should be drive themselves. This means that you as a user of a financial tool or as an individual investor set the destination that you want for your money and the platform used then figures out how to get there quickly and safely. So the platform, in this case, is kind of like using Waze to find the best route for going somewhere.
Just like self-driving cars, Personetics says that Self-Driving Finance is not an all or nothing proposition but rather a continuum of capabilities. It enables banks to provide retail, small business and wealth management customers with varying degrees of guidance in managing their finances – ranging from real-time insights to personalized recommendations and automated money management.
Fintech startup Personetics’ Self-Driving Finance solutions are based on AI and are used by financial institutions to “transform digital banking into the center of the customer’s financial life – providing real-time personalized insight and advice, automating financial decisions, and simplifying day-to-day money management.”
In a blog post, fintech startup Personetics said of the investment, “This is a proud day for Personetics, but it’s also a moment to remain humble and stay focused. Our founders and the company have a strong culture of putting people first, creating product-centric innovation, and developing the world’s leading solutions for financial-data-driven personalization and money management capabilities. We are going to stay focused on the success metrics that will create long-term value. We have a sustainable business model based on retaining valued clients year after year and expanding our client relationships for the long-term.”