London-based Quin AI has secured £1.5m in seed funding as the data privacy start-up looks to shift its unique focus on customer personalisation into new industries.
The funding round, led by Blackfinch Ventures and supported by SFC Capital, Logo Ventures, and Finberg, will expand the start-up’s offerings into new industries, including its most recent push into the banking sector.
Founded in 2020, Quin AI is a start-up on a mission to change how companies engage with customers online by using its “generative behavioural AI platform” to analyse live data — without capturing personal information.
It was founded by sisters Gulsah and Gonca Gulser, who together have three decades of experience in customer strategy and behaviour analytics.
The platform is designed to analyse “behavioural data,” including clicks and page views.
Since its launch, it has partnered with major firms, including Marks & Spencer, IKEA and Akbank, to enhance customer engagement.
Quin AI chief executive Gulsah Gulser said: “We’re excited to have the backing of such an esteemed group of investors who believe in the transformative potential of our technology.
“This funding will accelerate our growth, allowing us to further develop our platform and help businesses across multiple industries optimise their digital strategies.”
Its push into the banking sector has so far seen partnerships to increase credit card applications by identifying niche and under-performing audiences or channels.
For example, since using Quin AI technology, Akbank has seen a jump in the conversation rate on targeted applications.
Marks & Spencer also saw a 30 per cent increase in online conversation rates and a 15 per cent jump in repeat customers.
“Quin AI’s technology is a game changer for businesses looking to gain a deeper understanding of their customers and deliver personalised experiences,” Reuben Wilcock, head of ventures at Blackfinch Ventures, said.