Daloopa, a New York-based provider of AI-driven data extraction services for financial institutions, raised $20M in Series A funding.
The round was led by Credit Suisse Asset Management’s NEXT Investors, with participation from Nexus Venture Partners, Uncorrelated Ventures, and Hack VC. Credit Suisse Asset Management’s NEXT Investors and Nexus Venture Partners will each assign a member to the Board of Directors.
The company, which has raised $24m to date, intends to use the funds to accelerate expansion of its offerings among financial institutions.
Founded by Thomas Li, Daniel Chen and Jeremy Huang, Daloopa provides high-quality AI-powered data extraction services to hedge funds, investment banks, and other financial institutions. The company’s technology produces data extraction from millions of highly-complex financial documents, extracting financial data across structured and unstructured documents in dozens of languages.
Daloopa also has offices in New Delhi and Rio De Janeiro.