Israel

Personetics Secures $75 Million Funding From Warburg Pincus

Personetics, a Tel Aviv-based global provider of data-driven personalisation and customer engagement solutions for banks and financial services providers, announced it has raised $75 million in funding from Warburg Pincus LLC, a leading global private equity firm focused on growth investing.

Personetics is backed by Viola Ventures, Lightspeed Ventures, Sequoia Capital and Nyca Partners.

Banks use Personetics’ agile tools and its low-code engagement builder, a creation and management console, to quickly modify hundreds of pre-programmed insights and build customised user journeys.

This enables banks to share real-time personalised insights and advice, as well as automated, self adjustable financial wellness programmes across its customer base comprising both individual banking customers and small businesses.

The company’s clients include leading banks, such as U.S. Bank (US), RBC (Canada), Intesa Sanpaolo (Italy), Santander (Spain), KBC (Belgium), Metro Bank (UK), UOB (Singapore), Hyundai Card (Korea) and MUFG (Japan).

David Sosna

David Sosna, CEO and Co-Founder of Personetics, said:

“The financial services industry is reaching a tipping–point in mobile adoption and setting a new standard in Smart Personalized Engagement. Personetics has set out down this path and has launched its vision of Self-Driving Finance.

We are looking to quickly expand our global footprint with new partners and clients, and support our existing customers with innovative business solutions. We are very excited to be partnering with Warburg Pincus on this journey”.

Peter Deming

Peter Deming, Managing Director at Warburg Pincus and Head of Financial Services across EMEA, said:

“Personetics leverages an unrivaled AI technology which is badly needed by established banks as they seek to differentiate themselves in a crowded market and match the customer experience of the neobanks and fintech apps.

Through the combination of our financial backing and Warburg Pincus’ extensive global network across financial services, Personetics can distribute its unique technology into banks all over the world”.

This article first appeared on fintechnews.ch

Featured image: (From left) David Sosna and David Govrin, Co-Founders of Personetics