UAE-based credit scoring platform zypl.ai has raised $5.5 million in a bridge funding round led by Carbide Ventures, with participation from investors including Eurasian Resources Group CEO Shukhrat Ibragimov, the company said on Thursday.
The round values the artificial intelligence firm at $80 million and will support its global expansion and deployment of next-generation AI solutions for financial institutions.
Founded in 2021 by Azizjon Azimi, zypl.ai develops synthetic data technology designed to improve credit decision-making, particularly in volatile economic environments. Its proprietary generative AI model, known as zGAN, focuses on producing outlier synthetic data to enhance predictive accuracy.
The company’s technology is integrated into its no-code platform, Lucid, which enables banks and other financial institutions to build and deploy AI models independently.
“Carbide Ventures first invested in zypl a year ago and is thoroughly impressed with the team, product and growth over the past twelve months,” said Dan Weirich, general partner at Carbide Ventures. “When given the opportunity to invest more, we jumped on it immediately.”
zypl.ai currently serves more than 60 financial institutions across 20 markets and counts Prosus Ventures among its backers.
Ibragimov, one of the investors in the round, is CEO of Eurasian Resources Group and chairman of Eurasian Bank and Eurasia Insurance Company.
The funding marks a key step in zypl.ai’s efforts to scale its AI-driven credit scoring solutions across new markets.