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SA's FinChatBot Secures R25 Million To Expand Into Europe and West Africa

FinChatBot will use the funding to expand its team and ramp-up plans to expand into Europe and West Africa.

Ola Olaoluwa
Ola Olaoluwa

FinChatBot, conversational financial services industry AI solutions provider, has attracted $1.6 million (R25 million) in investments.

The investments were chaperoned by French investment company focused on African startups, Saviu Ventures; Mauritius-based Compass Venture Capital, and foremost South African venture capital company Kalon Venture Partners.

Image Source: LinkedIn

Since 2016 when it was launched, FinChatBot’s solutions have become key interface and customer service channels for financial service providers across South Africa.

It currently services over twenty top-tier financial service providers in SA, helping them to automate the sales and servicing of their financial products. Its clients include MTN Financial Services, Sanlam, Santam, Hollard, MiWay and Bidvest Insurance.

Reports say that FinChatBot will use the funding to expand its team to 50+ people, and ramp-up plans to expand into Europe and West Africa.

South Africa In Focus

Population: $58.5 million (Compared to UK's 66.8 million)

GDP: $351.4 billion (Compared to UK's $2.827 trillion)

GDP Per Capita: $6,040 billion (Compared to UK's $42,370)

News

Ola Olaoluwa

Writer | Economist | Actor | Fashion Entrepreneur