Synapse secures $2mn to drive financial sector AI transformation

CAIRO:  Synapse Analytics secures $2 million to expand its AI technologies across the GCC and Africa and drive transformative change in the financial sector.

The funding round was led by Silicon Badia and Hub71.

Synapse Analytics, part of Abu Dhabi’s tech ecosystem  Hub71, is poised to address a critical socioeconomic challenge, which is 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.

“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. Imagine accessing financing as easy as signing up for an app with your email,” Ahmed Abaza, Co-Founder and CEO of Synapse Analytics, said.  

Moreover, he said that they are crafting the future of finance in a region characterised by a young population, growing economies, and a rapid adoption of digital finance.

“We see MEA becoming a pioneer in the financial services world, and we couldn’t find a better partner to join us on this mission than the Silicon Badia family.”

Synapse Analytics has already established multiple partnerships with major banking product providers such as AWS, Crealogix, and TUMM, positioning itself as a key player in the region’s AI-driven transformation.

“One of the most significant aspects of our technology focuses on “dark matter” of AI, in which AI needs to be integrated seamlessly with existing data sources, core banking, and loan systems. Our core competency lies in successfully shipping AI workloads to production in a safe, secure, and controllable manner. We are shaping the future of financial decisions and are excited to continue driving innovation in this critical sector,” Galal El Beshbishy, Synapse Co-Founder and COO, said.