FLOWX.AI raises USD 8.5 million in seed round

FLOWX.AI has raised USD 8.5 million in a seed round. The round, which is one of the largest European seed rounds this year was led by PortfoLion.

The company will use the capital to expand in Europe and US, expecting to grow the team with more than 20 people by the end of Q1 2022.

Also, the engineering and data science team will increase bandwidth to enhance the AI components and develop new functionality.

The company tackles a USD 500 billion challenge – enterprise legacy systems. Each year, the banking industry alone spends over USD 200 billion on technology, and 85% of it goes to running the bank – infrastructure maintenance and regulatory updates.  

The platform helps financial institutions create unified, omnichannel customer and employee experiences without changing their existing systems and infrastructure.

FLOWX.AI Inc was founded in late 2020 by Ioan Iacob – CEO, Serban Chiricescu – CTO, and Radu Cautis and started operating in 2021. 

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