Creators of conversational AI solutions for the financial services sector, FinChatBot, have secured a massive investment that will allow the firm to expand.

This morning the firm announced that Saviu Ventures, Compass Venture Capital and Kalon Venture Partners have together invested as much as $1.6 million into FinChatBot.

“We are grateful for the support of our investors who believe in our vision to become the leader in selling and servicing financial products with the use of conversational AI solutions,” co-founder and chief executive officer at FinChatBot, Antoine Paillusseau said in a statement.

FinChatBot was established in 2016 and in that time it has grown to service 20 top-tier financial service providers including banks and insurers including MTN Financial Services, Sanlam, Santam and Bidvest Insurance among others.

This investment injection will allow FinChatBot to grow its team to more than 50 people. This will be necessary as the firm looks to open offices in France, Portugal and the UK.

“We identified FinChatBot as a leader in this new industry, two years ago. We continue to be impressed by FinChatBot’s focus on the financial services industry and its consistent growth which is helping to disrupt a traditionally frustrating customer experience,” chief executive officer at Kalon Venture Partners, Clive Butkow, said in a statement.

If you’re looking for more information about FinChatBot, head over to the official website.

Brendyn Lotz writes news, reviews, and opinion pieces for Hypertext. His interests include SMEs, innovation on the African continent, cybersecurity, blockchain, games, geek culture and YouTube.