Aylien, an established provider of artificial intelligence (AI)-enhanced risk intelligence and financial analytics tools, revealed on December 23 that it secured €5 million (appr. $5.5 million) in funding via a Series A round. Aylien’s investment round was led by Finch Capital. Existing investors that also took part in the round include Atlantic Bridge University Fund, SOSV, and Enterprise Ireland. Finch Capital’s partner Hans De Back will take a seat on Aylien’s board of directors.
Aylien’s latest funding round has come after the company experienced significant growth this year and after entering several business partnerships with firms in the risk and finance sector such as Aon, Microsoft, and Revolut, one of Europe’s fastest growing Fintech firms.
According to a release, Aylien’s customized artificial intelligence (AI)-powered software “ingests, structures, and understands” news published in 14 different languages from more than 160 countries using its proprietary natural language processing (NLP) and machine translation technology. These solutions help users with advanced event discovery and investigation capabilities, which assist them in determining the impact of events that may be important to their business before they make it to mainstream media channels.
Andre Mohamed, head of wealth and trading at Revolut, stated:
“Aylien’s news intelligence solution allows us to provide relevant, timely, and trusted news updates for our wealth and trading customers, that help them make informed decisions when trading in the Revolut app.”
The latest investment round will finance Aylien’s ongoing growth and expansion into the risk intelligence space, and the creation of new revenue streams and products through a user-facing application.
Parsa Ghaffari, founder and CEO at Aylien, noted:
“We turn the world’s news data into a rich, reliable, and real-time source of information for businesses. This new round of funding will enable us to further develop our platform, as well as to expand into the US and UK markets where most of our customers are based.”
Mike Brennan, principal at Finch Capital, remarked:
“Finch Capital are [pleased] to lead the latest investment round in Aylien and to back such a technically talented team. Aylien have developed … AI and NLP technology which we believe has [useful] applications across risk management, finance, and intelligence.”
Dr. Helen McBreen, investment director and Aylien board director, Atlantic Bridge, said:
“This investment enables Aylien to continue to expand into new global markets after a successful 2019. The company has achieved strong market growth and [steady] customer adoption, particularly in financial services and risk intelligence markets.”