Sensibill raises $31.5m for AI-driven banking solution
Toronto-based fintech, Sensibill, has raised $31.5 million in a Series B funding round led by Radical Ventures, reports Jane Connolly.
Previous investors Information Venture Partners and First Ascent Ventures joined National Bank of Canada and others in the round.
This latest round takes the total raised to $46.5 million for Sensibill, which provides receipt management for mobile banking apps. Sensibill will use the funds to advance its AI-assisted decisioning and pursue its mission of unlocking the value of purchase data.
The company aims to offer contextual advice to users and says it is working with over 30 major banks in the US, UK and Canada – including Bank of Nova Scotia, Royal Bank of Scotland Group and FIS.
“We’re helping champion the future of work,” says Corey Gross, co-founder and CEO of Sensibill. “That means supporting small business owners, freelancers and entrepreneurs – they’re the fastest growing segment and the most underserved by banks.”
He adds: “What we’re trying to do at Sensibill is bridge the gap between what banks are good at today, and where they need to be in five or ten years to protect their relationships from disruption. Tools beyond core banking, an incredible customer experience and meaningful customer insights for banks – that’s what we bring to the table.”
Jordan Jacobs, co-founder and managing partner at Radical Ventures, comments: “This is a classic story of an under-the-radar company from Toronto with fantastic data-driven, customer-facing AI solutions being used by a who’s who of global Tier 1 banks.”
Since its last funding round, Sensibill has more than doubled its workforce and opened a UK office.