Tech Company Financing Transactions

Parcha AI Funding Round

On 8/8/2023, Parcha AI announced $5 million in Seed funding from Initialized Capital and private investors.

Transaction Overview

Company Name
Parcha AI
Announced On
8/8/2023
Transaction Type
Venture Equity
Amount
$5,000,000
Round
Seed
Investors

Initialized Capital (Lead Investor)

private investors (Amit Agarwal)

private investors (Bradley Horowitz)

private investors (Garry Tan)

Proceeds Purpose
The company will use the funds to Build AI Agents for Fintech Startups. Parcha AI is focused on building AI agents for fintech startups, utilizing advancements in generative AI and large language models. The goal is to automate manual tasks such as Know Your Business compliance, fraud detection, and customer onboarding. By leveraging AI agents that can analyze both public and private data sets, Parcha AI aims to improve operational efficiency and scalability for fintech companies.

Company Information

Company Status
Private & Independent
Industry
FinTech
Mailing Address
Undisclosed
San Francisco, CA 94111
USA
Phone
Undisclosed
Website
www.parcha.ai
Email Address
[email protected]
Overview
Our mission is to eliminate manual bottlenecks & empower businesses to scale. Our inspiration for Parcha comes from our time at Brex where we grew the customer base 10X in just a year by making onboarding, compliance, risk management and underwriting more automated. Despite 200+ people working on this problem there were still many workflows that required humans in the loop which were time consuming, repetitive and became a bottleneck to growth. We know Brex isn't unique in dealing with these manual workflows and we believe AI can help.
Profile
Parcha AI LinkedIn Company Profile
Social Media
Parcha AI Company Twitter Account
Company News
Parcha AI News
Facebook
Parcha AI on Facebook
YouTube
Parcha AI on YouTube

Management Team

Title
Name
Email & Social
Chief Executive Officer
AJ Asver
  AJ Asver LinkedIn Profile  AJ Asver Twitter Account  AJ Asver News  AJ Asver on Facebook
Chief Technical Officer
Miguel Ríos
  Miguel Ríos LinkedIn Profile  Miguel Ríos Twitter Account  Miguel Ríos News  Miguel Ríos on Facebook

 

 

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Prev: 8/8/2023: Stamus Networks venture capital transaction
Next: 8/8/2023: QNA Technology venture capital transaction

 

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We do our best to report on funding rounds that are announced publicly. VC investment data records on this site are sourced from a variety of public sources. The information is sourced from VentureDeal.com, an affiliated venture.

 

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