CBI Invests in zypl.ai's AI Fintech Innovations
As part of the investment, CBI will hold a seat on zypl.ai's board of directors.
Commercial Bank International (CBI), headquartered in Dubai, has invested an undisclosed sum in zypl.ai, a Tajikistan-based fintech startup using Artificial Intelligence (AI) in lending solutions.[1]
As part of the investment, CBI will hold a seat on zypl.ai's board of directors. With CBI's investment, zypl.ai aims to further its growth plan.
This investment, part of a post-seed bridge round, sees CBI joining a consortium of global investors. The move comes ahead of zypl.ai's planned Series A fundraising round later in 2024.
With an eye on global expansion, zypl.ai aims to tap into markets in Southeast Asia for microfinance and North America for credit unions. Additionally, it plans to enter the insurance industry with underwriting services.
zypl.ai offers zypl.score, a software for financial institutions to enhance credit decision models across retail and SME portfolios using synthetic data generation. Over 35 banks across Eurasia have adopted zypl.ai's AI-as-a-service software, underwriting more than $100 million in credit portfolios with minimal default rates.
CBI has fully deployed zypl.score in its retail lending operations through a software licensing agreement in 2023.
Founded in 2021 by Azizjon Azimi, zypl.ai boasts a team of over 50 employees, including a research and development lab and a machine learning academy in Tajikistan.
The startup had previously secured $2 million from various investors and has now raised $1.2 million in its latest bridge round, valuing the company at $25 million.