Senso, a Canadian cloud-based AI platform that enables financial service providers to manage and grow their consumer credit portfolios, has reportedly secured $3 million through its pre-Series A funding round, which was led by Mendoza Ventures and BreakawayGrowth.
Founded in 2016, Senso stated it is creating a “shared future” by transforming fragmented and unstructured data into personalized, connected, and “meaningful” experiences.
Along with Mendoza Ventures and BreakawayGrowth, Luge Capital, Rising Tide, Inovia Capital, and BDC also participated in the round. According to Crunchbase News, Senso’s funding is now up to $4 million, with the company previously raising $1. 1 million through seed rounds in 2018 and 2019. It was also part of Techstars. Speaking about the company’s development, Saroop Bharwani, shared with the media outlet:
“We’ve proved out the concept in Canada in the mortgage asset class space, and we are ready to replicate that in the U.S. market and then the Latin American market will follow.”
Mendoza Ventures general partner, Adrian Mendoza also shared:
“Financial institutions, globally, require a competitive advantage to deliver delightful experiences, and the ones who adopt Senso’s data-driven strategy will be able to confidently build loyalty and lifetime value.”
Senso will notably be using the funds to focus on building “better” models that will constantly adapt and get “better” over time with artificial intelligence and data science. The company is also looking at the consumer credit space.