Aveni secures £1.1m seed follow-on investment led by TRICAPITAL
The TRICAPITAL-led round will fund team expansion and sector diversification for the Edinburgh fintech.
Aveni develops artificial intelligence and natural language processing software to monitor customer conversations and automate operational tasks for regulated sectors.
Edinburgh fintech firm Aveni has secured £1.1m in a seed follow-on investment led by the TRICAPITAL Angel syndicate. The funding round also saw participation from Scottish Enterprise, Old College Capital, and Wallace Equity. The capital will be deployed to accelerate the company's growth, expand its operations into new regulated industries beyond financial services, and build out its team for UK expansion. This follows strong demand for the company's speech analytics software, which automates quality assurance and helps identify vulnerable customers.
From the founder
"In the new world, AI can be adopted throughout the customer journey, driving new insight, significant efficiency gains and better protecting the vulnerable. It’s a win-win situation. By using AI to help automate processes like quality assurance and risk monitoring, material cost reductions can be achieved. At the same time, companies gain targeted insights on customer experience and training opportunities for customer-facing staff."
Joseph Twigg
CEO at Aveni
Investor perspective
"The evolution of Aveni’s game-changing products will enhance Scotland’s proud association with the development of AI solutions and strengthen the country’s growing reputation as a global leader in fintech innovation."
Jan Robertson
Interim Director of Growth Investments, Scottish Enterprise
Use of funds
- 01Grow the team
- 02Expand into international markets
- 03Scale operations
