The article discusses Reflexivity, an AI fintech startup that has raised $30 million in Series B funding to help banks make better lending decisions. Reflexivity’s AI platform analyzes data from various sources, including bank statements, tax returns, and credit reports, to provide a more comprehensive view of a borrower’s financial situation. This helps lenders make more informed decisions and reduce the risk of defaults. The funding round was led by Citi and included participation from existing investors such as Nyca Partners and Renegade Partners. Reflexivity plans to use the funding to expand its team and product offerings. The company’s CEO, Jasper Pissaudoue, believes that AI can help democratize access to credit by providing a more accurate assessment of risk. The article highlights the growing importance of AI in the fintech industry and its potential to transform traditional lending practices.
Source: https://www.businessinsider.com/ai-fintech-reflexivity-pitch-deck-raise-30-million-series-b-2024-10