Artificial intelligence (AI)-powered financial services provider Auquan has secured $4.5m as an addition to its seed funding, aimed at automating deep work in finance with AI.
Led by Peak XV and with participation from Neotribe Ventures, the new funding brings the total raised in the seed round to $8m.
Headquartered in London, Auquan uses AI agent architecture and retrieval augmented generation (RAG) in financial services to automate complex knowledge-intensive workflows.
Neotribe founder and managing partner Swaroop Kolluri said: “Their RAG-based AI agent architecture is truly transformative, allowing professionals to focus on strategic, meaningful work while enabling firms to gain a competitive edge.”
Auquan will utilise the latest funds to expand its engineering and sales teams to address some of the financial industry’s most complex challenges.
The company also aims to develop advanced AI architectures, enabling financial institutions to streamline intricate, multi-step processes that require specialised knowledge and accuracy.
Auquan’s technology is said to focus on “deep work,” which is complex workflows essential to financial operations.
The RAG-based architecture underpinning Auquan’s platform breaks down complex tasks into discrete components. Its AI-powered model enables Auquan to process information in a manner similar to human reasoning, producing output in a fraction of the time it would take an analyst.
In terms of data reach, Auquan’s capabilities span both internal and external structured and unstructured data sources. The company claims to deliver coverage across more than 550,000 global public and private companies and over two million public and subscription data sources in 65 languages.
Auquan co-founder and CEO Chandini Jain said: “In an industry where billions can be gained or lost in moments, time is the most valuable asset. Auquan gives it back.
“By automating the repetitive work that consumes most of the day for finance professionals, we’re unleashing productivity on an industrial scale. Three years from now, the brightest minds in finance will look back and wonder why they ever had to spend days sifting through hundreds of documents and typing up lengthy reports and memos.”
