Taktile Secures $54M in Series B Funding to Revolutionize AI-Driven Risk Decisioning in the US

Taktile Secures $54M in Series B Funding to Revolutionize AI-Driven Risk Decisioning in the US

Taktile, a leading decision automation platform based in New York, has successfully secured US$54 million in a recent Series B funding round. This significant investment highlights the growing demand for advanced AI solutions in the financial services sector.

Funding Details and Investors

The funding round was spearheaded by Balderton Capital, with contributions from several prominent investors, including:

This new funding brings Taktile’s total investments to US$79 million, emphasizing its rapid growth since its Series A round in 2022.

Expansion and Customer Base

Since its last funding round, Taktile has significantly expanded its reach, now operating in 24 markets. The platform has established partnerships with notable fintech companies such as:

Additionally, Taktile collaborates with major financial institutions, including Allianz and Rakuten Bank.

AI-Driven Decision-Making

Taktile’s innovative platform empowers financial institutions to create and manage AI-driven decision-making processes focused on:

  • Risk assessment
  • Fraud detection
  • Underwriting

The recent funding will enable Taktile to enhance its product development and further its expansion efforts.

Expert Insights

Maik Taro Wehmeyer, CEO of Taktile, emphasized the importance of expert guidance in AI adoption, stating:

“In high-stakes industries, AI adoption must be guided by experts with deep risk domain expertise. Errors in financial decision-making can lead to serious consequences, including loan defaults and compliance failures. Our platform allows organizations to integrate AI into risk workflows while maintaining oversight and control.”

Future of AI in Financial Services

Rob Moffat, General Partner at Balderton Capital, also commented on the necessity of integrated systems:

“It is surprising that many businesses still rely on disconnected tools and in-house coded decisioning systems. Taktile’s integrated platform provides a single, consistent view of the customer, allowing firms to build, iterate, and optimize complex decision logic. This approach has already attracted leading fintechs and is now driving adoption among banks and insurers.”

As AI adoption in financial services continues to grow, Taktile is well-positioned to assist institutions in implementing AI-powered decisioning at scale while maintaining compliance and operational efficiency.

READ ALSO  Transform Your Calls: Krisp's AI Technology Helps Indians Speak Like Americans!

For more information about AI in finance, visit Forbes’ guide on AI in Finance.

Similar Posts

Texas-Based NinjaOne Clinches Major US RegTech Deal Amidst 28% Funding Decline in 2024

Texas-Based NinjaOne Clinches Major US RegTech Deal Amidst 28% Funding Decline in 2024

Bysupport

In 2024, US RegTech funding saw a 28% decline, totaling around $5 billion across 228 deals, down from $7 billion in 2023. Despite this drop, average deal sizes increased to $22 million, indicating investor preference for established companies amid rising regulatory complexities. California led in funding, securing four of the top ten deals, while states like Washington and New York also performed well. Notably, NinjaOne, a Texas-based firm, raised $231.5 million in the largest deal, valuing the company at $1.9 billion. With this funding, NinjaOne plans to enhance its platform and reinforce its market position in regulatory technology.

Apple Unveils AI-Enhanced App Review Summaries in iOS 18.4: A Game Changer for Users!

Apple Unveils AI-Enhanced App Review Summaries in iOS 18.4: A Game Changer for Users!

Bysupport

Apple’s upcoming iOS 18.4 update will enhance the App Store by introducing AI-powered summaries of app reviews, currently in public beta. This feature uses proprietary AI technology to provide concise overviews of user feedback, generated through large language models. Summaries will be updated weekly for apps with sufficient reviews. Initially launching in the U.S. in English, the feature will expand to other markets and languages throughout the year. However, concerns arise regarding potential manipulation of ratings and overreliance on summaries. The update is expected to roll out to the public in April 2024, alongside other enhancements.

TradeBridge Joins Forces with Amazon to Offer £5 Million in Funding for Sellers

TradeBridge Joins Forces with Amazon to Offer £5 Million in Funding for Sellers

Bysupport

Amazon has partnered with TradeBridge to launch a term financing option for eligible sellers, providing access to funding up to £5 million. This initiative aims to support small and medium-sized enterprises (SMEs) by meeting their financial needs and promoting growth. Key features include rapid funding approvals, customizable repayment schedules, and transparent terms with no hidden fees. To qualify, sellers must have been trading on Amazon for at least six months and receive an invitation to apply. Leaders from both companies highlight the importance of this collaboration in enhancing cash flow and enabling SMEs to seize growth opportunities.

Aevi and IXOPAY Join Forces to Transform Global Payment Solutions for Merchants

Aevi and IXOPAY Join Forces to Transform Global Payment Solutions for Merchants

Bysupport

Aevi has partnered with IXOPAY to enhance global merchant payment systems, aiming to unify in-person and online transactions. This collaboration integrates Aevi’s card-present solutions with IXOPAY’s card-not-present capabilities, allowing merchants to manage both types of transactions seamlessly. Benefits include reduced costs, increased transaction success rates, and diverse payment options without extra integrations. The partnership addresses the complexities of multi-channel payment management, offering merchants greater control, flexibility, and scalability. Industry leaders from both companies emphasize the importance of this collaboration in providing frictionless payment experiences and adapting to the evolving payments landscape.

Nextdoor’s Nirav Tolia: Betting Big on AI to Transform the Platform's Future

Nextdoor’s Nirav Tolia: Betting Big on AI to Transform the Platform’s Future

Bysupport

Nextdoor, a platform dedicated to local communities, is facing challenges with user engagement and growth. Co-founder Nirav Tolia has returned to lead a revitalization effort, addressing declining participation and issues like misinformation and negative interactions. Despite its initial success, the platform has seen a drop in active users and advertiser interest since going public in 2021. Tolia’s plans include developing a new product for better local information access, incorporating diverse content sources, and using AI tools to enhance conversation quality. As Nextdoor navigates its future, Tolia aims to restore its relevance as a key community tool.

Transforming Financial Markets: How Machine Learning is Redefining Fair Value Measurement

Transforming Financial Markets: How Machine Learning is Redefining Fair Value Measurement

Bysupport

Accurate asset valuation, especially for illiquid financial instruments, is increasingly crucial in the evolving financial landscape. Kidbrooke, an analytics platform, explores how machine learning techniques like hierarchical clustering and artificial neural networks (ANNs) can improve the consistency of asset valuations. Fair value measurement, essential under International Financial Reporting Standards (IFRS), reflects an asset’s current worth rather than historical cost. Kidbrooke’s AI models, including Variational Autoencoders and Gaussian Mixture Models, enhance clustering for financial valuation. ANNs further refine yield estimates for Level 2 instruments, reducing pricing errors and integrating alternative datasets, thus increasing accuracy and reliability in asset valuation.