CBI Partners with zypl.ai in Fintech Venture 

Commercial Bank International (CBI), a prominent corporate and retail bank based in Dubai, has announced a strategic investment in zypl.ai, a fintech startup at the forefront of applying generative AI in lending practices. This investment, part of a post-seed bridge round alongside a consortium of global investors, precedes zypl.ai’s upcoming Series A raise scheduled for later in 2024. The move underscores CBI’s commitment to innovation and its strategic vision to partner with trailblazers in the financial technology landscape. 

Since its inception, zypl.ai has achieved significant milestones, surpassing $1 million in annual recurring revenue with a remarkable compounded monthly growth rate exceeding 20%. The fintech has achieved operational break-even and is poised for further expansion. Notably, zypl.ai’s aspirations extend beyond geographical boundaries, with plans for global expansion targeting major financial institutions worldwide. In particular, the company is eyeing microfinance opportunities in Southeast Asia, credit unions in North America, and a foray into underwriting within the insurance sector. 

At the heart of zypl.ai’s offerings lies its flagship software, zypl.score, which empowers financial institutions to optimize credit decision models across retail and SME portfolios through the generation of synthetic data. Over 35 banks across 12 markets in Eurasia have already deployed zypl.ai’s AI-as-a-service software, underwriting over $100 million of credit portfolio while maintaining minimal default rates. The company’s proprietary generative adversarial networks (GAN) leverage a cumulative dataset of over 54 million traditional and alternative data points, providing macro-resilient decisioning capabilities adaptable to changing macroeconomic cycles. 

Ali Sultan Rakkad Al Amri, CEO of CBI, expressed enthusiasm about the partnership, emphasizing its potential to enhance operational efficiencies and deliver a seamless lending experience. “Our partnership with zypl.ai signifies a strategic entry into using AI implementation for advanced credit scoring,” Al Amri stated. “We’re confident we can further enhance our operational efficiencies to ensure a swift and seamless lending experience.” 

Azizjon Azimi, the founder of zypl.ai, highlighted the transformative potential of generative AI in disrupting the traditional credit scoring industry. “Our approach provides a radical alternative, empowering financial institutions to retain resilient portfolios across all macro cycles,” Azimi remarked. “Our rapid traction is proving that generative AI is not just in content creation – it is a disrupting technology that can shake up the world of finance.” 

As part of its investment, CBI will secure a seat on zypl.ai’s Board of Directors, facilitating collaboration and supporting the fintech’s global growth trajectory. With zypl.ai’s latest bridge round raising $1.2 million at a post-money valuation of $25 million, the partnership between CBI and zypl.ai heralds a new era of innovation in the financial services sector, poised to reshape lending practices worldwide. 

Tawfiq Adnan Zuwayyed (pictured) is Head of Legal at CBI.