Auquan raises $4.5 million to automate deep work in financial services with AI

Auquan, an AI-driven innovator for the financial services industry, has raised an additional $4.5 million in a seed funding round led by Peak XV’s Surge, with participation from Neotribe Ventures.

The latest round brings Auquan’s total seed funding to $8 million. The startup will now focus on streamlining deep, knowledge-intensive financial workflows using AI.

What does Auquan do?

Auquan is an AI innovator automating deep work in financial services. The startup claims that financial institutions such as UBS, Federated Hermes, and BC Partners use its SaaS-based AI solution to automate workflows for investment, credit, due diligence, risk monitoring, and ESG — and make better-informed decisions faster and outperform.

It leverages retrieval augmented generation (RAG) and an AI agent architecture to automate complex multistep knowledge workflows and consistently produce timely, comprehensive and accurate insights that users can trust.

“The financial world is a fast-paced, high-pressure environment, with time as the most valuable asset” said Chandini Jain, Co-founder and CEO of Auquan.

“Auquan empowers financial professionals to reclaim their time by automating the mundane tasks that drain their 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, with the power of AI,” she added.

Purpose of fundraising

With this latest funding, Auquan plans to expand its engineering team in Bengaluru tapping into the region’s advanced AI/ML talent to tackle some of the financial industry’s most complex workflow challenges.

The team will work on further developing Auquan’s unique Retrieval-Augmented Generation (RAG) and AI agent architecture to automate “deep work” — complex, multistep tasks requiring in-depth knowledge and precision across finance functions, the release notes.

”Auquan’s remarkable growth and customer traction validates our belief that they’re uniquely positioned to solve a critical challenge in finance: freeing highly skilled teams from the grind of wading through noisy data, performing undifferentiated work to support high-impact decisions,” said Swaroop Kolluri, Founder and Managing Partner, Neotribe.

“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. We’re thrilled to support Auquan as they revolutionize deep work productivity and decision-making in finance,” Kolluri added.