FlowX.AI, a Delaware-based AI enterprise application modernisation platform for large financial services organizations, raised $35m in Series A funding.
The round was led by Dawn Capital, with participation from existing investors PortfoLion, SeedBlink, and DayOne Capital.
The company intends to use the funds to accelerate further product innovation and pursue global expansion.
Launched in 2021 by Ioan Iacob, Radu Cautis and Serban Chiricescu, FlowX is an enterprise AI application modernization platform for mission-critical applications. The platform, built in partnership with large global system integrators, enables large banks to build core digital products and modernize applications systems and infrastructure. New products built on FlowX.AI require minimal maintenance going forward, helping future-proof tech stacks and budgets, and reducing the cost of infrastructure. Major clients already include leading European banking group OTP, which has $85 billion in AUM, the largest bank in South Eastern Europe, Banca Transilvania, as well as one of the largest banking groups in Central Europe, Alpha Bank.
FlowX.AI is headquartered in Delaware, US, with engineering offices in Bucharest, Romania and has a headcount of almost 50 people across Europe and US.
FinSMEs
22/05/2023