City A.M.: Personetics announces $85m funding injection to boost banking personalisation

Israeli fintech firm Personetics has announced an $85m funding injection as it looks to accelerate the roll-out of its banking personalisation solutions.

The round, led by software investment firm Thoma Bravo with participation from firms including Viola Ventures and Sequoia Capital, takes Personetics’ total capital raised to $160 million in the last year.

The fintech firm uses data to tailor retail banking, small business, wealth management and card services, and has secured a number of high profile partnerships including Santander and Metro Bank, as banks look to tap into AI to provide more personalised customer experiences.

David Sosna, CEO and Co-Founder of Personetics, said: “Data-driven personalization and customer engagement is the battleground for financial institutions all over the world.

“Banks are increasingly moving from a passive to a proactive relationship with customers and are looking for new ways to help them improve their financial well-being.”

The firm said the partnership with Thoma Bravo would allow it to “drive rapid growth and innovation” and deliver “self-driving finance”.

Personetics currently has a customer base of 80 financial institutions in 30 global market and is now looking to ramp up its roll out with the new investment.

Robert Sayle, a Partner at lead investor Thoma Bravo, said: “We are thrilled to partner with Personetics and leverage our operational expertise in software and financial technology to help accelerate the company’s momentum, the introduction of new products and technology, and the platform‘s reach to financial institutions and their customers across the globe.”

Read the article: Personetics announces $85m funding injection to boost banking personalisation