Synapse Analytics raises $13 million Series A led by Partech

Synapse Analytics has raised $13 million in a Series A round led by Partech, Launch Base Africa reported on 14 September. Regional investors Algebra Ventures and Silicon Badia also took part. The round brings the company's total funding to $17 million since it was founded in 2018. Terms and valuation were not disclosed.

Software for regulated lenders

Synapse builds AI decision-making software for financial institutions. Its customers include commercial banks, non-bank lenders, fintech operators and telecoms providers, who use it for credit scoring, customer onboarding, fraud prevention, anti-money laundering checks and portfolio management.

What sets the product apart is where it runs. Synapse deploys its models inside the client's own infrastructure, whether that is on-premises, in a private or sovereign cloud, or on a fully air-gapped network. Credit and risk teams can change their underwriting rules and test new policies against historical data before switching them on.

According to the company, its software has processed millions of applications across the Middle East, Africa and Latin America.

What comes next

The company is now building autonomous AI agents that help risk officers watch their portfolios in real time. The new capital will expand its engineering and commercial teams, speed up product development and grow international distribution.

Synapse is led by co-founders Ahmed Abaza, its chief executive, and Galal Elbeshbishy, its chief operating officer. Lewam Kefela, a principal at Partech, said the founders and their team "have the technical depth and execution to scale it".

At a glance

• Company: Synapse Analytics
• Raised: $13 million
• Round: Series A
• Lead: Partech
• Also investing: Algebra Ventures, Silicon Badia
• Founded: 2018, Egypt
• Total raised to date: $17 million