Abaka secures £4.9m in Series A funding from Thames Trust, Ace and Co, and Downing Ventures to fund research and expansion
Thames Trust, Ace and Co, and Downing Ventures backed the round to support artificial intelligence research and international growth.
Abaka provides a digital retirement platform driven by artificial intelligence to help financial services firms engage clients. Its modular enterprise applications assist providers in moving away from legacy systems.
Abaka has secured £4.9m in a Series A funding round backed by Thames Trust, Ace and Co, and Downing Ventures. The fresh capital will be directed towards research and development of artificial intelligence retirement solutions, alongside an international push into North America and Asia.
The London enterprise fintech company operates an artificial intelligence platform featuring chatbot capabilities and personalised nudges. This latest injection brings the total raised by the firm to $10m as it targets digital transformation within the pensions sector.
From the founder
"At Abaka, we believe that harnessing AI-led solutions has the potential to revolutionise the retirement and savings industry, using what we call Artificial Financial Intelligence to help financial services companies better engage their clients in financial planning."
Fahd Rachidy
Founder and CEO at Abaka
Use of funds
- 01Fund research and development
- 02Expand into international markets
