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Mastercard invests in no-code AI platform Signzy

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Mastercard has joined a $5.4 million funding round for Bangalore-based no-code AI platform Signzy.

Arkam Ventures, Kalaari Capital and Stellaris Venture Partners also participated in the round for Signzy, which helps financial services automate risk and compliance processes.

The startup, which claims to be dealing with a massive surge in global demand during the Covid-19 pandemic, will use the funds to boost AI research and global sales.

Ankit Ratan, co-founder, Signzy, says: “The ongoing pandemic has not only upended the pace of digitalization in the financial services space but has also led to increased demand for no-contact solutions.

“The decisions that used to need years to finalise are now being closed in just a quarter. We have worked hard to keep up with the growing demand.”

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