Data analytics firm Personetics raises US$75m led by Warburg Pincus
[JERUSALEM] US-Israeli data analytics firm Personetics said on Tuesday it had raised US$75 million in a private funding round led by private equity firm Warburg Pincus.
Personetics, which uses artificial intelligence (AI) to analyse data for banks and financial services firms and enable them to send personalised recommendations and products to their customers, is backed by Viola Ventures, Lightspeed Ventures, Sequoia Capital and Nyca Partners. Terms of the transaction were not disclosed.
The company said its software is used by more than 95 million personal banking customers and analyses billions of transactions daily.
Clients include many of the world's top banks, including US Bank, RBC in Canada, Intesa Sanpaolo in Italy, Santander in Spain, KBC in Belgium, Metro Bank in the UK, UOB in Singapore, Hyundai Card in South Korea and Japan's MUFG, it said.
Warburg Pincus in 2019 bought credit card firm Leumi Card from Israel's Bank Leumi for 2.5 billion shekels (S$1.02 billion).
It has since changed Leumi Card's name to MAX.
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REUTERS
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