FinChatBot raises $1.6m for EU, W.Africa expansion

FinChatBot raises $1.6m for Expansion in Europe, West Africa

South African conversational AI startup FinChatBot is looking to expand into West Africa and Europe after the firm announced in November that it raised $1.6-million from a round led by French investment firm Saviu Ventures, and early investors South Africa’s Kalon Venture Partners, and Mauritius-based Compass Venture Capital.

FINCHATBOT, which develops conversational AI solutions for financial services providers, was founded in 2016 by CEO Antoine Paillusseau and Romain Diaz. The new investment brings the total amount of venture capital the startup has raised since launch to about $2.7-million.

The Johannesburg-based startup said it will use the latest round of funding to grow its team by about 50 more people and to open new offices in France, UK and Portugal. ai