Daloopa Raises $20M in Series A Financing Round

Daloopa, an AI-powered data extraction services provider for financial institutions, announced that it has raised $20 million in the Series A funding round led by Credit Suisse Asset Management's NEXT Investors.

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In the recent announcement, Daloopa mentioned that it has received $24 million to date. The company's existing investors including Nexus Venture Partners, Uncorrelated Ventures and Hack VC joined the latest financing.

Daloopa is planning to use the latest funds to accelerate its AI-driven data extraction offerings for financial institutions. Credit Suisse Asset Management's NEXT Investors and Nexus Venture Partners will each assign a member to the Board of Directors.

Credit Suisse Asset Management's NEXT Investors is a leading experienced growth investor in financial technology companies. It identifies minority growth equity investment opportunities in private technology and services companies globally where the team has domain expertise and actionable edge.

Thomas Li, Daloopa's CEO commented:”We are at a turning point in technology where software and AI can automate some of the most mundane work for a financial analyst. At Daloopa we are focused on providing levels of data accuracy surpassing 99.9%, at unprecedented speeds and scale, for some of the most complicated document types and data structures in the financial sector."

"We are thrilled to be working with Daloopa which has a distinct understanding of what it takes to automate data extraction, and solve one of the oldest and most prevalent problems in finance," said Talal Khan, Director at NEXT Investors in Credit Suisse Asset Management.