Egypt’s AI Startup Synapse Analytics Raises USD 2 M

Egypt-based AI startup Synapse Analytics has raised a USD 2 M round led by Silicon Badia and Hub 71, Abu Dhabi. Founded in 2018 by Ahmed Abaza and Galal El Beshbishy, Synapse Analytics enables businesses to harness AI for improved decision-making.

The startup raised USD 2 M in a pre-series A round in 2022 led by Egypt Ventures. With its latest funding round the AI company aims to tackle a crucial socioeconomic issue: enhancing financial inclusion and accessibility by offering advanced AI software for financial decision-making, such as credit scoring, cross-selling, dynamic pricing, and eKYC/eKYB (Know Your Customer/Business) processes.