Signzy offers a no-code workflow digitalization platform and digital onboarding solutions aimed at simplifying compliance and reducing fraud risk for banks, NBFCs and other financial institutions. The company said it will use proceeds from the new round to improve its platform and to onboard global banking and financial services clients. Signzy has filed eight patents in the US and nine in India, and has received a US patent for banking in the metaverse. The company has a presence in India, the US and the Middle East and cites Veri5digital, Hyperverge and Digio as competitors. Operating revenue grew 68% to Rs 18.47 crore in FY21, while it posted a loss of Rs 1.43 crore for the fiscal year; it has not yet filed financials for FY22. With the latest round, Signzy has raised $35 million to date. Signzy offers a no code AI platform focused on automating risk and compliance workflows for banks and other financial-services firms. The company plans to invest in strengthening its AI platform and to expand its global sales team to meet growing demand. Its product team of 120+ people is based in Bengaluru and is focused on building solutions for the changing global financial services industry. Signzy has built a global partnership with Mastercard and has opened offices in New York and Dubai to serve North America and the Middle East. The startup works with over 140 banking and financial-services companies globally, including the four largest banks in India and three acquiring banks in the US. Financially, Signzy has been raising capital to support growth, most recently taking its latest fundraising to $8.4M. Signzy builds an AI- and blockchain-based platform for digital onboarding and KYC that digitises documentation and automates identification, background checks and issuance of electronic bank guarantees. The company uses artificial intelligence for fraud-detection capabilities and blockchain to secure documents and consent in place of signatures and seals. Signzy has developed a prototype and is working with more than 50 banks, asset management companies, non-banking financial companies, insurers, wallets and payment service providers; clients include State Bank of India, ICICI Bank, PayU and Mswipe. Founded in 2015 and owned by Signzy Technologies Pvt. Ltd, the startup is headquartered in Bengaluru. It plans to use the Series A proceeds to invest in its technology stack and expand operations in overseas markets. The company previously attracted seed funding from Kstart (Kalaari's seed fund) in December 2016 and has a roster of notable angel backers.

Total raised

$32M

Funding rounds

3

Latest round

Equity

Latest activity

Sep 2022