Synapse Analytics, founded in Egypt in 2018 and now headquartered in Abu Dhabi, has raised a $13 million Series A led by Partech, according to African-Startups. Algebra Ventures and Silicon Badia also invested. Total funding is now $17 million.
What it sells
Banks decide every day who gets a loan, who looks like fraud and who can open an account. Synapse sells the software for those decisions. Risk teams can write lending rules, test them against past data and put them live. The system can run on a bank's own servers, in a private or public cloud or fully offline, so customer data does not have to leave the bank.
That last point is the pitch. Regulators across the Middle East and Africa increasingly want financial data kept at home, which makes cloud-only tools harder to sell to banks.
Where it goes next
Synapse works with banks, fintechs and telecom companies across the Middle East, Africa and Latin America and says it has served more than 50 clients. The money will strengthen its engineering and sales teams and fund expansion into new markets.
"We built Synapse Analytics to help financial institutions make better underwriting decisions," said co-founder and COO Galal El-Beshbishy, according to African-Startups.
