Aptus.AI’s suite aims to transform compliance from obligation to opportunity
Aptus.AI, a regtech firm headquartered in Italy, has secured €3m in a pre-series A funding round, with Programma 103 by VC P101 leading the investment.
Founded by Andrea Tesei and Lorenzo De Mattei, Aptus.AI aims to “transform compliance activities from a mere obligation and cost centre” into a lever to generate business opportunities. The company’s ambition is to change how organisations, starting with banks and insurance companies, access and harness the vast volume of legal documents.
The suite of products offered by Aptus.AI compromises regulatory consultation, automatic notifications, legal inventory management and updates, and impact analysis. This latest funding round follows a €1.2m seed investment earlier this year, with backing from business angels and Fin+Tech.
Giuseppe Donvito, partner of P101, expressed enthusiasm for its inaugural investment in the dynamic regtech market. He cited the confidence placed in Aptus.AI’s team and the notable interest from major banking and insurance institutions in the company’s products. Donvito said: “We are confident that the company will quickly achieve a leadership position in the compliance and risk management sector.”
Aptus.AI’s chief executive officer, Tesei, highlighted the unique approach taken by the company, combining AI for data extraction with generative AI. Tesei said: “Our solution can achieve a very high level of precision in responses even for a complex and nuanced field like the legal one, with extraordinary positive impacts.”
De Mattei, chief technology officer of Aptus.AI, added: “The heart of our artificial intelligence is its revolutionary ability to convert legal documents of any format into a machine-readable standard.
“Our machine-readable format provides a set of data and legal information in digital format that allows us to create more precise generative AI models, significantly limiting so-called hallucinations in an area like the legal one, where the accuracy of responses is essential.”