Home SAAS Index Ventures invests within the Saas startup in Berlin

Index Ventures invests within the Saas startup in Berlin

Data is the new currency, also in the financial sector. The tactile fintech program is intended to help banks and insurance companies to better assess their customers.

Berlin Office of Startups, founded in September 2020 by Mike Taro Weimer and Maximilian Eber.

touch

Fintech Tactile raises 4.7 million US dollars in a first round of financing, which corresponds to around 4 million euros. The main investor is the London-based Venture Capital Index, which has already poured money into startups like Persono and Revolut. The round also includes Y Combinator, the popular accelerator program from Silicon Valley, London-based VC Firstminute Capital and several corporate sponsors such as the founders of Github and Uipath.

The company, which was founded in September 2020, wants to use financial injections to increase its workforce from the current 15 employees – and in particular to expand its team of software developers. Because they take care of the tangible product: a platform on which banks and insurance companies can activate their algorithms, such as credit check algorithms, and manage them in production. Tactile works with machine learning, i.e. self-learning IT systems. “So far, many have viewed machine learning as a research and development project in their companies. We want this technology to actually be implemented, ”said co-founder Mike Taro Wemayer in an interview with Gründerszene.

Tactile charges a monthly fee for its product. However, the CEO does not want to say how high it will go. The tariffs depend on how many algorithms banks and insurance companies want to use for themselves. According to Wehmeyer, the startup’s customers include Branch, a new bank from the USA. According to the founder, the focus of customers in Europe is initially in the DACH region.

Harvard graduates return to Berlin

The startup was founded in 2020 by Wehmeyer and Maximilian Eber. The two got to know each other during their studies at the elite Harvard University. Before touch, they worked for a company in which they had already developed their own algorithms for machine learning systems.

The founding duo expanded their idea from Y Combinator Touchs. The founders were not allowed to travel to the United States at the start of the program last summer due to the coronavirus pandemic. However, this did not harm the business of the start-up, says Wehmeyer. “Participating in Y Combinator has helped us a lot to expand our customer base in the USA.”

also read

How Revolut turned over 70 employees into millionaires

“Alcohol freak. Troublemaker. Introvert. College student. Social media lover. Web ninja. Bacon fan. Reader.”

Latest articles

web optimization encourages oblique investments | Monetary tribune

With the flood of new investors on the stock market in a relatively short space of time, the regulator has stepped up its efforts...

6 causes Maxime Bernier needs you to vote for PPC

This article is part of a Narcity series that highlights the key points you need to know about where Canada's political party leaders stand...

PPC candidate apologizes for being requested to kill Trudeau – in some way

It could be the most insincere excuse in political history. Popular Party candidate and pot-backer Mark Emery was beaten up on Twitter Monday night after...

The state of search engine optimisation 2021 [New Search Engine Journal Research]

Do you love dates? Are you looking for help to successfully steer your SEO strategy and career in the right direction for 2022?Then...