Ahmedabad, 20 June 2024: Metis Intellisystems Pvt Ltd, which stands for Intelligent Decisioning using AI & ML for BFSI, has raised 1.3 Crores in a round led by Inflection Point Ventures. The funds will be allocated to further develop the pioneering solutions, optimize strategic use, and expand local and global outreach avenues to expand their market presence and drive growth.
Khushru F. Doctor, CEO of Metis, with over 30 years of experience, has led large and small global projects. His extensive qualifications include MCA, former CISA, CSM, PMP, and a Diploma in Innovation and Design Thinking. Amit Saraswat, the CPO, brings over 20 years of experience, backed by a PhD in “Advanced Statistical Methods” and a Bachelor’s Degree from IIT Roorkee. As the first Data Scientist at LendingKart, he pioneered data-driven strategies in the fintech space. His expertise has also been honed through roles as a Data Scientist at Fidelity Investments and Home Credit. The founders are well supported by Mahima Dwivedi, a veteran of International Business Development.
Vikram Ramasubramanian, Partner, Inflection Point Ventures, says, “As credit availability increases, boosting economic growth, credit decision-making must become more robust. With a wealth of qualitative and quantitative information available today, data science is essential for improving credit decisions. Analytics not only assist lenders before lending but also act as early warning systems during the credit term, ensuring credit quality is maintained. While existing applications help lenders with credit decisions, they often fail to adapt to the evolving credit landscape and fully leverage data science. Metis addresses this with more accurate and agile data analytics and early warning systems. Led by Khusru and Amit, who bring deep and complementary expertise, Metis is well-positioned to thrive in this market.”
Metis’ deep understanding of Machine Learning, Artificial Intelligence, and its application for fintechs has enabled the company to develop a unique capability to deep-dive to present contextual understanding and cross-reference data from multiple sources. This allows them to create a comprehensive and unified understanding of the customer, enhancing the precision and effectiveness of financial technology solutions.
Khushru F. Doctor, CEO of Metis Intellisystems, says, “Metis Intellisystems aims to transform the fintech industry using its cutting-edge AI/ML technologies. There is a lack of high-tech, intelligent decision-making processes, even in large fintechs. Metis aims to spearhead the adoption of intelligent systems for decision-making to replace outdated technologies or manual methods. Leveraging our expertise in advanced technologies, experience in Fintech, and passion for problem-solving, Metis seeks to harness and interweave abundant, diverse data sources via cross-referencing and triangulation to champion a paradigm shift to automated intelligence.”
Within two months of Metis’ product launch, the company secured partnerships with financial institutions, both domestic and international, including a prominent national bank. They were invited to The Indian Banks’ Association (IBA) Knowledge Series to present their solutions to large public sector banks. The Fintech AI platform has formalised arrangements with many companies in the past few months. These discussions with multiple banks and NBFCs aim to implement solutions for various use cases such as risk identification, early warning systems, and automated business rule engines (BRE) for lending.
The digital lending sector, in which Metis operates, is projected to grow significantly, from its current valuation of USD 270 billion to USD 1.3 trillion by 2030. This substantial market growth underscores Metis’s vast potential and opportunities as it scales its operations.
