Investors have swung in and offered Johannesburg-based AI fintech startup, FinChatBot a $1.6million grant to help expand its expansion into West Africa and Europe.
FinChatBot got the grant from Kalon Venture Partners, a leading South African venture capitalist, Mauritius-based Compass Venture Capital and French investment holding company Saviu Ventures.
On realising the funds, FinChatBot co-founder and CEO, Antoine Paillusseau said “We are grateful for the support of our investors who believe in our vision to become the leader when considering selling and servicing financial products with the use of conversational AI solutions.”
By implementing our solutions, he adds that financial service providers can double their conversion rates, reduce operational costs by more than 60%, retain customers better, and gather more data about customers which can aid product innovation and customer retention.”
This funding will go into expanding the creation of conversational AI solutions for the financial service industry into West Africa and Europe. FinChatBot plans to open offices in France, the UK, and Portugal in the not-so-distant future.
In addition, it will aid the growth of FinChatBot’s team by a reported 50 employees in various sectors of the company including project management, skills in engineering, sales, and more.