Danish fintech company Safty has raised 11.3DKK (£1.3m) in venture capital, led by Upfin and supported by experienced finance professionals. Safty has developed a new data solution that employs machine learning to accurately identify current and future needs of customers for banks, insurance companies, and pension funds. The investment is directed towards enhancing Safty’s growth in both domestic and international markets, as well as facilitating ongoing product development.
Fintech company Safty is receiving interest from prospective clients across the financial sector see recognise potential in the company’s insights and data solution. Positioned for substantial growth, Safty’s founders are experiencing significant attention from investors, leading to a substantial double-digit million investment. This investment is spearheaded by the venture fund Upfin, renowned for backing early-stage fintech startups, along with several prominent private investors.
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Jakob Vang Glud, CEO of Safety, said: “We are overwhelmed by the interest from investors, and in reality, Safty could easily have raised three times as much money. It has, however, been important for us to bring in investors who can contribute with more than just capital. It is investors with the right skill set and knowledge that will enable us to take Safty to the next level. We have achieved just that, and we are extremely pleased.”
Safty to to develop new products
With the investment, Safty intends to further product development, adding an extra layer to the data and insights work of financial institutions. By combining public and private data through advanced machine learning technology, Safty can precisely identify the specific needs of a bank, pension, or insurance customer today. And soon, Safty will also be able to predict what they will need in the future.
Vang Glud added: “Consumers today increasingly demand greater personalised customer experiences, particularly when managing significant and, at times, complex decisions about insurance, pension, and finances. Most well-established financial institutions often rely on existing CRM systems or assumptions derived from demographic and geographic data. However, at Safty, we know exactly what has happened in the lives of customers, whether it involves a home purchase, a new construction project on the property, the launch of a new business, or perhaps a name change indicating a shift in life circumstances. As for the future, we will be able to predict when these events occur, making our solution even more intriguing for companies in the financial sector.”
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