Auquan, an AI innovator for financial services, has raised an additional £3.5 million for its seed round.
The funding was led by Peak XV with continued participation from Neotribe Ventures, bringing total seed funding to $8m.
Auquan says it is the first AI solution to leverage an AI agent architecture and retrieval augmented generation to automate deep knowledge-intensive workflows in financial services.
The company claims that 25% of the top 20 global asset managers, investment banks and private equity firms use Auquan to unlock transformative productivity gains, make better-informed decisions faster and outperform their competitors.
The new funding will be primarily allocated to expanding Auquan’s engineering and sales teams.
Auquan is designed to handle ‘deep work’: complex, recurring, multistep workflows that are vital to business operations and demand specialised knowledge, sustained focus and precision.
Finance teams are filled with professionals who excel at deep work, such as writing 20-50 page investment and credit memos, conducting due diligence, managing compliance, monitoring risk and producing detailed ESG reports.
While some of this work can differentiate a firm, other complex and time-intensive aspects — like searching through lengthy documents or drafting reports — are essential yet undifferentiated.
Auquan liberates talent from these time-consuming yet routine aspects of deep knowledge work, enabling them to instead focus on high-value, strategic work that drives the business forward and enhances competitiveness.
“In an industry where billions can be gained or lost in moments, time is the most valuable asset,” said Chandini Jain, co-founder and CEO of Auquan.
“Auquan gives it back. By automating the repetitive work that consumes most of the day for finance professionals, we’re unleashing productivity on an industrial scale.
“Three years from now, the brightest minds in finance will look back and wonder why they ever had to spend days sifting through hundreds of documents and typing up lengthy reports and memos.”
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