Home Finance Taktile raises $20 Million Series A Funding Round to transform how businesses make automated decisions

Taktile raises $20 Million Series A Funding Round to transform how businesses make automated decisions

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  • Taktile empowers businesses in the financial industry to build, run and evaluate automated decision flows more easily and quicker than ever before
  • The platform is critical for insurance companies and lenders to launch new products fast and grow their portfolio in a profitable way
  • Taktile works with companies of all sizes, from scale-ups to trusted enterprises including Branch, Moss, and Rhino, and has grown revenues by over 300% in the last year

Taktile, a high-growth Software as a Service (SaaS) startup revolutionising how businesses make automated decisions, today announced it has closed a $20 million Series A investment. The round, co-led by Index Ventures and Tiger Global, will help the company to further develop its unique product capabilities and accelerate ongoing expansion in the United States – where the company has seen rapid growth, increasing its client base by 4x since lockdown restrictions were lifted. 

Founded in 2020, and backed by eight unicorn founders, Taktile allows companies of all sizes to easily build, run, and evaluate automated decision flows without requiring developers to write complex code. It is used by businesses for decisions like which customers to lend to, or what price to offer to new customers. The platform helps companies to bring products to the market faster, act proactively in a constantly changing environment, and eliminate guesswork for their most relevant decisions.

In an uncertain market environment with rising interest rates, financial services companies are facing increasing pressures to improve their unit economics. Taktile enables these companies to quickly improve their decision accuracy and risk selection, and allows them to combine high growth with sound portfolio dynamics.

Over the past 12 months, Taktile has grown revenues by over 300% and currently powers more than 250,000 decisions every day. With offices in New York and Berlin, and a team around the world, Taktile works with financial services companies globally, including some of the most sophisticated FinTechs such as Branch, Moss, and Rhino. Taktile has broader applications that go beyond the financial industry as its product can be used by any business that relies on complex and automated decisioning and wants to iterate on its decisions in a data-driven way. 

“Today, too many businesses rely on automated decisions that they rarely revisit, which causes them to overlook critical risks, respond to market changes too late, and thus leave money on the table”, said Maik Taro Wehmeyer, Co-Founder and CEO of Taktile. “By allowing businesses to adjust their decision flows in a quick, easy and data-driven way, we help them optimise decision accuracy, reduce risk, and significantly improve their margins. Combined with our off-the-shelf data integrations across the globe, this not only helps our customers improve their unit economics but also enables them to launch new lending and insurance products fast.” 

Commenting on the round, Carlos Gonzales-Cadenas, Partner at Index Ventures, said: “Taktile’s platform fills a gaping hole in the fintech stack by unblocking risk teams, enabling them to quickly build, test and evolve their risk models and rules without a heavy dependence on engineering. I am excited about the product because better risk decisions have a direct bottom-line impact and lie at the heart of every financial product.”

Taktile was part of the Y Combinator in 2020 and has an advisory board made up of eight unicorn founders and executives from the world’s most disruptive and successful companies including Ross Mason (Founder, Mulesoft), Daniel Dines (Founder, Ui Path), and Olivier Pomel (Founder, Datadog). 

 

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