Document AI startup Docsumo raises $3.5 Mn in seed round


Singapore-based AI startup Docsumo has raised $3.5 Million in seed capital. The round was led by Fifth Wall, Arbor Realty Trust, and existing investor Better Capital. 

The startup- Docsumo plans to utilize the funds in expanding its client base in the North American market and grow the team. 

The company was founded by Sheth and Bikram Dahal in Jan 2019.

Docsumo helps enterprises in facilitating:

  • capture,
  • validate and
  • analyze data from unstructured documents for automated decisions,

In addition to that Docsumo helps commercial lenders insurers to read financial statements, tax returns, insurance policies, and other documents required for credit insurance applications. 

Docsumo is spread over Nepal in Kathmandu and India in Mumbai. With these, they have gained six times revenues.

Docsumo provides services to enterprises in the US, EU, Asia, including Arbor Realty Trust, National Debt Relief, Hitachi, PayU, etc.

In the following categories, the AI startup will cover the bullets-

  • customer onboarding,
  • income verification,
  • financial fraud detection,
  • data for underwriting, and
  • Another critical. 

Executive opinion:

“We enable companies to unlock 10X efficiency and act on incoming documents in real time. What differentiates Docsumo is that the technology can accurately extract data from business documents with a high degree of structural variability, and automate decisioning workflows end-to-end,” said Rushabh Sheth, cofounder of Docsumo.   

Tags : Docsumo funding,Docsumo news