"Y Combinator startup Eloquent AI has raised $7.4 million in seed funding to provide AI-fueled customer service in the financial services industry. The startup says its AI product can help with complex, regulated workflows, such as onboarding new customers and unfreezing bank cards. Eloquent was cofounded by Tugce Bulut, who previously cofounded market research startup Streetbees. Bulut left the company two years ago. Last month it went into administration and laid off all staff."
"Bulut is building Eloquent AI alongside Aldo Lipani, a machine learning professor at University College London. The two met at a conference in 2023 after she said she was gripped by his presentation on how to control AI's "stochastic" nature, she said. Foundation Capital led the seed, which saw participation from EJF Ventures, Duke Capital Partners, Zeno Ventures, and Y Combinator."
Eloquent AI secured $7.4 million in seed funding led by Foundation Capital, with participation from EJF Ventures, Duke Capital Partners, Zeno Ventures, and Y Combinator. The startup builds an AI product that automates complex, regulated customer-service workflows in financial services, including onboarding, unfreezing bank cards, and sanctions screening. Eloquent uses a proprietary large language model called Oratio trained for financial compliance and ingests screen recordings of human agent processes. Cofounders are Tugce Bulut and UCL professor Aldo Lipani. The round closed in three days, was reportedly 12-times oversubscribed, and the company reached $500,000 ARR and maintains a long waitlist.
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