DreamQuark Raises €3m to Accelerate Deployment of AI in Financial Services

Led by CapHorn Invest and joined by Plug & Play, this round of funding will allow DreamQuark to strengthen its team and maintain its technological edge to cope with the rapid acceleration of its activity.

DreamQuark SAS, software editor of the predictive analytics platform Brain, announces the completion of a €3m series of fundraising with CapHorn Invest, along with US accelerator Plug & Play.

Founded by Nicolas Meric in 2014, DreamQuark develops a software platform that democratizes the use of artificial intelligence (AI) and generates massive value in banking and insurance, by simplifying the creation of powerful business applications. Its scope covers their main activities from customer segmentation, product targeting, policy underwriting, credit granting, asset management, compliance, anti-money laundering, fraud, recovery, satisfaction and customer retention.

In order to automate the creation of business applications with deep learning, DreamQuark focused its developments on the performance of its models, the identification and removal of biased data, the ability to explain decisions according to the regulation and the facilitation of deployment for IT departments.

“DreamQuark aspires to build an AI at the level of human intelligence and with a critical mind, to be an asset for humanity and not a threat,” said Nicolas Meric, CEO and founder of DreamQuark.

The company counts major players of the bank and insurance sectors as customers such as BNP Paribas and AG2R La Mondiale.

With this round of funding, the company plans to continue the strengthening of its team already initiated this year with the arrival of François de Lescure, partner and Head of Sales and Marketing, who led the Analytics sales teams of Nokia Europe and Georges Destriau, partner and chief financial officer, bringing his experience in finance, development, mergers and acquisitions and risk management, notably at BASF. Chief customer officer Camille Morel and chief product officer Jérémie Abiteboul also joined as partners.

DreamQuark plans to double its workforce to accelerate its commercial / marketing development in France and internationally and maintain its technological edge by continually enriching its platform with new business features.

CapHorn Invest founder and partner Guillaume Dupont analyzes: “We have been impressed by the technology DreamQuark has been developing for three years. The platform combines predictive performance and model interpretability, while facilitating a fast and simple implementation. The unanimous praise from customers, as well as the proven ROI, only reinforced our conviction that DreamQuark has everything to quickly establish itself as an essential solution in financial services.”

Plug & Play CEO and Founder Saeed Amidi says: “We, at Plug & Play, strongly believe in DreamQuark’s AI technology; especially as they continue to work with banks and insurance companies in addressing the challenges involved with integrating AI in these industries. The fact that their product has continuously proven success with major enterprises such as BNP Paribas has drawn us to invest and partner with DreamQuark even further to strategically support them in this key stage of the company’s development.”

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