Israeli fintech company Personetics announced Tuesday that it has raised $75 million in growth funding in a round led by Warburg Pincus LLC, a leading international private equity firm engaged on growth investing. Personetics is also backed by Viola Ventures, Lightspeed Ventures, Sequoia Capital and Nyca Partners.
Personetics offers a proprietary AI software platform to leading banks around the world. Its software gets more than 95 million personal banking customers and analyzes billions of transactions daily. Personetics examines customer financial data and behavior in real-time, with the data staying safely inside the bank’s ecosystem.
Personetics’ successful delivery of the vision of ‘self-driving finance’ has become the global market standard. Banks using the Personetics AI software are seeing an up to 35% increase in digital customer engagement, a 20% increase in an account and balance growth and a 15% increase in the adoption of personalized product recommendations and advice.
Flagship clients include many of the world’s leading banks, such as U.S. Bank (US), RBC (Canada), Intesa Sanpaolo (Italy), Santander (Spain), KBC (Belgium), Metro Bank (UK), UOB (Singapore), Hyundai Card (Korea) and MUFG (Japan), as well as Israeli banks like Bank Hapoalim and Discount Bank.
Personetics, which employs 220 people, was founded by veteran fintech entrepreneurs David Sosana and David Govrin, who previously founded Actimize that was acquired by Nice.