ABAKA operates an AI-driven digital platform that enables financial institutions to engage, retain and acquire customers through personalised saving and retirement products. The company offers what it calls the world’s first digital saving and retirement enterprise SaaS platform, powered by machine learning and hyper-personalization. Its technology delivers scalable, affordable advice on pensions, savings, and investments for retail customers and serves clients across retail banking, wealth management, retirement, and insurance. ABAKA is a multi-award-winning provider of Artificial Financial IntelligenceTM with deep specialization in machine learning and hyper-personalization. The company plans to use recent funding to support international expansion in Asia and to continue developing its AI-powered hyper-personalized recommendation engine. Abaka leverages artificial intelligence to offer a savings platform that enables employees to manage their pension plans via their smartphones. The platform helps employers improve employee benefits awareness and directly communicate and engage with staff. Employees receive financial guidance and personalised nudging to build their financial knowledge. The company said it will use the funds to hire new people and to launch in the UK. Abaka was founded in January 2016 by CEO Fahd Rachidy and is based in London, UK. It raised a £520k seed round to support these plans.

Total raised

$6M

Funding rounds

2

Latest round

Series A

Latest activity

Nov 2021