Featured
Fintech Company faire.ai Closes €3 Million Seed Round
The fintech company faire.ai is also ready to expand its operations in all European countries where the opportunities offered by Open Banking can be seized. In October 2020 faire.ai closed the first round of financing of €1.5 million led by Banca Progetto, a bank operating in the household and corporate credit market, creating a strategic partnership for the bank’s digital development.
The value of the seed round just closed by faire.ai amounts to €3 million. The B2B fintech company is specializing in consumer credit automation that leverages Open Banking as a source of data and uses artificial intelligence models to estimate consumers’ risk profiles, with the aim of democratizing access to credit. The round was led by lead investors Francesco Beraldi and Lorenzo Lamberti Sagliano.
Also participating in the investment were Fabrick as an industrial partner and a pool of investors: Cristiano Esclapon (Mamacrowd), Matteo de Brabant and Marco di Dio Roccazzella (Jakala), Paolo Barberis (Nana Bianca), Paolo Griffo (Panda), Francesco Marini (Lio Factory), Gianandrea Streklej (Venere. com), Massimo Ferro (Nestle), Jan Sprengnetter (Sprengnetter Group), Guido Polesello (Arcom), Edi Polesello (Maronese), Davide Marmondi and Enrico Angella (Swan Asset Management), Tommaso Mascetti (WMM Asset Management).
Read more on the subject and find the latest financial news of the day with the Born2Invest mobile app.
What does faire.ai do
Founded in 2020 from the idea of four young experts in the fintech world: Gianluigi Davassi, Gilberto Taccari, Giorgio Fiorentino, Cristina Bonacina and Claudia Chiesa, faire.ai aims to consolidate in the Italian market for two main services, Data Analytics and Lending as a service, including the recently launched FairePay product. The former is a data analytics service that makes real-time credit ratings of individuals accessible; the latter allows users to installment their payments, being able to access a personal loan ranging from €2,000 to €20,000.
The expansion of faire.ai
The startup has quickly scaled up the number of employees, almost all of whom have degrees in engineering, computer science, or computer science, from the initial 4 to the current 26, and aims to hire an additional 10 staff members by 2023, thanks in part to the capital raised in this round. The company is also ready to expand its operations in all European countries where the opportunities offered by Open Banking can be seized. In October 2020 faire.ai closed the first round of financing of €1.5 million led by Banca Progetto, a bank operating in the household and corporate credit market, creating a strategic partnership for the bank’s digital development.
“We started with the desire to create something totally innovative in fintech, innovating creditworthiness by analyzing Open Banking data with Machine Learning and Artificial Intelligence, we did not imagine we could achieve these goals.”
Narrated Gianluigi Davassi, co-founder and CEO of the company, who added, “It was the results we achieved, together with our development strategy, that convinced a parterre of leading investors to believe in us, giving rise to a seed-round that, in terms of its value (€3 million), ranks among the leading ones in Italy. We continue in our goal of growth and expansion, confident that the products we are offering on the market are extremely valid and worthy of the great interest we are gaining.”
“The startup studio Nana Bianca was created to support the growth of innovative companies, following with dedication, openness, and involvement in the development of the digital ecosystem and trying to facilitate new chapters of the future step by step. Our contribution to faire.ai goes in this direction: we are very interested in following the growth path of a fintech with great innovative potential, to explore new paths, made possible once again by the development of sophisticated digital technologies,” said Paolo Barberis, co-founder of Nana Bianca.
Lead investors Francesco Beraldi and Lorenzo Lamberti Sagliano were assisted by advisory company CII3 and the law firm Alma, composed of partner Avv. Roberto Nigro and associate Avv. Sveva Ricci.
__
(Featured image by StartupStockPhotos via Pixabay)
DISCLAIMER: This article was written by a third party contributor and does not reflect the opinion of Born2Invest, its management, staff or its associates. Please review our disclaimer for more information.
This article may include forward-looking statements. These forward-looking statements generally are identified by the words “believe,” “project,” “estimate,” “become,” “plan,” “will,” and similar expressions. These forward-looking statements involve known and unknown risks as well as uncertainties, including those discussed in the following cautionary statements and elsewhere in this article and on this site. Although the Company may believe that its expectations are based on reasonable assumptions, the actual results that the Company may achieve may differ materially from any forward-looking statements, which reflect the opinions of the management of the Company only as of the date hereof. Additionally, please make sure to read these important disclosures.
First published in StartupItalia, a third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.
Although we made reasonable efforts to provide accurate translations, some parts may be incorrect. Born2Invest assumes no responsibility for errors, omissions or ambiguities in the translations provided on this website. Any person or entity relying on translated content does so at their own risk. Born2Invest is not responsible for losses caused by such reliance on the accuracy or reliability of translated information. If you wish to report an error or inaccuracy in the translation, we encourage you to contact us.
-
Crowdfunding1 week ago
Tremmersdorf Crowdfunding Promotes Climate Protection
-
Crowdfunding2 days ago
CrowdFundMe Grows and Registers Positive EBITDA, Thanks to Real Estate Crowdfunding
-
Business2 weeks ago
Which Are the 20 Novels Nominated for the German Book Prize
-
Crypto5 days ago
Bitcoin Is Trading Above $65,000 – Is a BTC Rally Coming Now?