Sydney based AI and data Insights provider MOGOPLUS has raised AU$1.5m in funding from London based New Model Venture Capital Group.
The funding will be deployed to expand the award-winning scale-up’s existing AI based credit Insights portfolio and help it expand into other emerging open data markets and verticals globally.
MOGOPLUS provides vertical agentic AI solutions into the financial services sector, with a specialisation across the lending and credit lifecycle. Enabling banks and credit providers to automate large parts of their workflows, the MOGOPLUS agentic credit decisioning suite dramatically lowers loan origination costs, and facilitates quicker, more accurate lending decisions. Existing customers include 2 of Australia’s Tier 1 Banks, a large Middle Eastern Bank, Customer Owned Mutuals, Credit Unions and a raft of Digital Lending Platforms and Non-Bank Lenders.
The funding will allow for additional commercial reach to meet the growing market demand in the agentic AI space and increase development of the range of AI solutions outside of the banking and finance arena. A further funding round to accelerate this growth is also now being structured.
Commenting on the raise, MOGOPLUS CEO Mike Page said “We are thrilled to continue our long-term relationship with New Model as we begin this new chapter of growth.”
As the AI agent market continues to mature and enterprises experience the strategic value of utilising a digital workforce in process heavy and manual workflows, the next wave of innovation will utilse a combination of domain expertise and explainable multi-agent architecture. Our decade of expertise in making sense of unstructured financial data positions MOGOPLUS well for this exploding global market.
Although the banking and financial services sector provides significant opportunity for us to continue to grow, we are now also seeing interest in our agentic solutions across other verticals such as Telecommunications, Insurance, Wealth, and Loyalty.
Having New Models’ market reach, expertise, and support to achieve this creates an ideal partnership”
New Model’s CEO and Founder James King added “We’re delighted to continue backing Mike and the MOGOPLUS team as they scale their proven agentic AI solutions into new markets. Their deep expertise in financial data and strong customer traction with major banks positions them perfectly to capitalise on the explosive growth in enterprise AI adoption.”
According to a recent report the AI Agent market is projected to grow from USD$7.84bn in 2025 to USD$52.62bn in 2035. A CAGR of 46.3%. The report states that the market expansion “will be boosted by industry specific adoption in sectors like healthcare, retail and finance, where agents can tailor interactions, shorten response times and handle intricate regulatory processes
Vendors who can create and deliver these specialised intelligent agents will gain a competitive edge, as these systems are integrated into specialist business functions”.
Read the orginal article: https://ffnews.com/newsarticle/funding/mogoplus-raises-1-5m-to-scale-agentic-ai-in-lending-and-open-data-markets/
