Impactsure Technologies raises USD 1 mn as seed capital to fund its growth
The AI-powered document analytics firm attracts investors from the US, UK, and India in its first-ever fund-raising activity
Mumbai : Impactsure Technologies (Impactsure), an Artificial Intelligence (AI) and Machine Learning (ML) powered digitisation and analytics company that simplifies complex operations in corporate banking and trade finance has raised USD one million as seed capital during its maiden fund-raising endeavour to fund its growth activities. The participants in this round are individuals who have invested in their personal capacity. The company did not disclose the valuation and stake dilution from this round.
Impactsure offers trade finance solutions that enable banks, financial institutions, and corporations with advanced intelligent data analytics and document processing, using artificial intelligence (AI) and machine learning (ML), for critical processing and compliance-related requirements that improve business outcomes and customer experience, increase operational efficiency and reduce compliance risks. The addressable trade finance solutions market is estimated at $3 billion, and the value of global trade is expected to be $24 trillion by 2026.
Commenting on the funding, Mr. Dharmarajan Sankara Subrahmanian, Founder Director & CEO, Impactsure, said, “The amount raised in this round will be utilised for key talent acquisition and resources retention, customer acquisition, geographical expansion, branding, marketing & business development; and towards IP, digital product assets & technology tools, infrastructure. We foresee double-digit growth opportunities in the BFSI space for our flagship automation product, SureMatch. This incremental capital will enable us to fully leverage the emerging opportunities.”
To support its growth, Impactsure recently expanded its senior management team by onboarding BFSI technology leader, Ramasubramanian S (Sriram) as President, Banking Operations and human resources specialist, Vinu Pillai as head HR.
Impactsure has entered into several strategic alliances and partnerships with established players in the tech market, including Google, Deloitte, Microsoft and Amazon, to expand its reach and impact. The company was recently recognised as the Star Performance (new entrant) of the Transaction Banking (Trade Finance) category in the coveted Annual IBSi Annual Sales League Table 2022. Impactsure also bagged the Best Trade Finance Implementation Award for the Best Adoption of Tools & Governance, at IBS Intelligence Global FinTech Innovation Awards 2021.