Data extraction start-up Daloopa lands $20m investment led by Credit Suisse
Fintech start-up Daloopa has raised $20 million in Series A financing led by Credit Suisse Asset Management’s NEXT Investors.
![](https://www.fintechfutures.com/files/2021/07/daloopa-206x180.jpg)
The firm completed its seed round in 2020
The round also included participation from existing investors Nexus Venture Partners, Uncorrelated Ventures, and Hack VC.
The firm has now raised around $24 million in total following its seed round in 2020.
The New York-based start-up provides AI-powered data extraction services to hedge funds, investment banks, and other financial institutions.
The company aims to automate what is traditionally a time-intensive manual task for financial firms.
Daloopa says its AI tech can extract financial data from millions of complex financial documents, covering structured and unstructured documents in a number of languages.
“We are at a turning point in technology where software and AI can automate some of the most mundane work for a financial analyst,” says Thomas Li, Daloopa CEO.
Li claims the company is aiming to provide “accuracy surpassing 99.9%” with its financial data extraction services.
As part of the investment, Credit Suisse Asset Management’s NEXT Investors and Nexus Venture Partners will each assign a member to Daloopa’s board of directors.