Egyptian startup Synapse Analytics, which is empowering businesses to leverage AI for better decision-making, has raised US$2 million in funding to expand its AI technologies across the Gulf Cooperation Council (GCC) region and Africa, driving transformative change in the financial sector.
Founded in 2018, Synapse Analytics helps businesses and organisations leverage their data to obtain descriptive, predictive and prescriptive insights, build data-driven products, and use machine learning and AI for optimisation and analytics.
The startup is working to address issues around financial inclusion and access by providing cutting-edge AI software for financial decisions, including credit scoring, cross-selling, dynamic pricing, and eKYC/eKYB processes. Financial institutions benefit from Synapse’s versatile technology, which offers deployment options including cloud, on-premise, and hybrid models.
Its latest funding round, worth US$2 million, was led by Silicon Badia and Hub 71, Abu Dhabi, and will help Synapse Analytics to expand into new markets in Africa and the GCC region.
“AI isn’t just a tool – it’s the catalyst for making financial inclusion a reality in the MEA region. Our technology is designed to help financial institutions make their services inclusive, accessible, affordable, convenient, empowering, and safe,” said Ahmed Abaza, co-founder and CEO of Synapse Analytics.
“Imagine accessing financing as easy as signing up for an app with your email. A world where your bank anticipates your needs, making financial services as personalised as your morning coffee. As we usher in this new AI-driven era, we’re crafting the future of finance in a region characterized by a young population, growing economies, and a rapid adoption of digital finance. We see MEA becoming a pioneer in the financial services world, and we couldn’t find a better partner to join us on this mission than the Silicon Badia family.”
Synapse Analytics has already established multiple partnerships with major banking product providers such as AWS, Crealogix, and TUMM, positioning itself as a key player in the region’s AI-driven transformation.
“We see many AI companies, but Synapse stood out for its proprietary technology that addresses critical pain points for financial institutions,” said Hamed Masri, partner at Silicon Badia. “The impact clients see on NPL rates and processing times speaks volumes about the strength of their product. We’re excited about the versatility of their tech in other verticals and believe there’s no better team to execute on the founders’ vision.”
