Interface.ai Secures $30M Funding to Revolutionize Customer Service for Banks

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San Francisco, October,2024 Interface.ai, a leader in AI-driven customer automation solutions for banks and credit unions, has successfully secured $30 million in funding, marking a pivotal moment in its growth trajectory. The round was led by Avataar Venture Partners, with $20 million raised as equity and an additional $10 million in debt. This represents Interface.ai’s first infusion of external capital, as the company has been bootstrapped since its founding in 2019.

Interface.ai, which is trusted by over 100 financial institutions across North America, offers AI-powered agents that handle routine customer service requests, including modifying mortgage payments, opening new accounts, and more. The company’s platform processes millions of interactions daily, enabling banks to provide fast, efficient service while cutting operational costs. CEO and co-founder Srinivas Njay attributes the company’s success to its unique approach of democratizing AI for regional and community financial institutions.

“The big national banks are pouring resources into AI to transform their operations, but smaller financial institutions often lack the staffing and expertise to do the same,” said Njay. “At Interface.ai, we level the playing field by providing ready-to-use AI that can be tailored to each institution’s specific needs.”

This latest round of funding will support Interface.ai’s plans to expand its 120-person team in both North America and India, as well as accelerate its go-to-market initiatives. The company’s AI technology offers voice and text-based solutions that not only handle customer inquiries but can also upsell financial products by analyzing previous interactions.

“Interface.ai has the potential to become a billion-dollar company,” said Nishant Rao, Founding Partner at Avataar Venture Partners. “Sri and his team have built a game-changing platform that’s empowering financial institutions to deliver personalized, automated services at scale. We’re excited to support their vision.”

As financial institutions worldwide adopt AI-driven solutions, Interface.ai is leading the way in transforming customer interactions with its proprietary generative AI. The company’s solutions are specifically designed for the banking industry, ensuring seamless integration with existing systems while delivering hyper-personalized experiences for customers.

With this capital raise, Interface.ai is poised to further solidify its position as the go-to AI partner for community banks and credit unions, helping them deliver superior customer service and achieve financial wellness for their customers.

About Interface.ai:
Interface.ai is a leading provider of AI-powered customer automation solutions for banks and credit unions. Its voice- and text-based AI agents are designed to handle routine customer requests, reducing operational costs while improving service quality. Trusted by over 100 financial institutions, Interface.ai helps banks democratize access to AI-driven solutions that enhance customer experiences and boost business growth.

About Avataar Venture Partners:
Avataar Venture Partners is a growth-stage venture capital firm focused on B2B and SaaS companies. Through its unique #OperatingVC model, Avataar partners with founders to help accelerate growth, optimize operations, and achieve market leadership in their respective industries.

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