Pisa, Italy-based regtech SaaS company Aptus.AI raised EUR 3 million in pre-Series A funding. Programma 103 by VC P101 Sgr led the financing for the company. Meanwhile, some business angels and Fin+Tech such as the accelerator of CDP Venture Capital, also followed this round after participating in the previous one.
What the company’s official has to add
Andrea Tesei, co-founder and CEO of Aptus.AI, said, “We are very proud to count an important player like P101 among our investors and equally grateful to the Fin+Tech accelerator of CDP Venture Capital, which has been decisive in our growth, renewing and reinforcing its confidence along with other shareholders who have supported us from the beginning. We are determined to uphold the Italian flag in a sector like regtech, which is proving increasingly important and strategic internationally, enabling large organizations to develop their offerings rapidly and correctly, thus remaining competitive and benefiting end consumers and the socio-economic fabric. By combining AI for data extraction with generative AI, our solution can achieve a very high level of precision in responses even for a complex and nuanced field like the legal one, with extraordinary positive impacts.”
Lorenzo De Mattei, co-founder and CTO, further added, “The heart of our artificial intelligence is its revolutionary ability to convert legal documents of any format into a machine-readable standard. This innovation opens up a world of previously inconceivable interactions with legal texts for AI users and systems. The result is a suite of extraordinarily efficient tools that include interactive regulatory consultation, automatic custom notifications, automatic management and updating of legal inventory, and instant impact analysis. Our machine-readable format provides a set of data and legal information in digital format that allows us to create more precise Generative AI models, significantly limiting so-called ‘hallucinations’ in an area like the legal one, where the accuracy of responses is essential.”
What the lead investor has to add
In addition, Giuseppe Donvito, Partner of P101, said, “At P101, we are excited to join forces with the Aptus.AI team. This represents P101’s first investment in the dynamic RegTech market, a rapidly expanding sector. The transaction arises from the trust we have in the team and the significant interest shown by major banking and insurance institutions in Aptus.AI’s product, thanks to the high level of Artificial Intelligence technologies developed by Andrea and Lorenzo, leveraging their studies in Computer Science and Generative AI at the University of Pisa. We are confident that the company will quickly achieve a leadership position in the compliance and risk management sector. It is an honour for us to contribute from the outset to the growth of Aptus.AI, providing our continuous support to shape the future of this innovative venture and consolidate its prominent position on the international stage.”
About the company
Andrea Tesei and Lorenzo De Mattei launched the company in 2018. The Italian regtech transforms compliance activities from a mere obligation as well as the cost centre into a lever. It seeks to generate business opportunities by transforming the way large organizations and companies, beginning with banks and insurance companies, access, consult, as well as utilize the immense volume of legal documents.
To explore more such startups, visit Zefyron Startup Database
For more extensive analysis and Market Intelligence reports, feel free to approach us.
We try our best to fact-check and bring well-researched as well as non-plagiarized content to you. Please let us know
if there are any discrepancies in any of our published stories,
-how we can improve,
-what stories you would like us to cover
–what information you are looking for in the comments section below or through our contact form! We look forward to your feedback, and thank you for stopping by!
Next Article
