Berlin-founded, now New York-headquartered Taktile has raised $20 million in a Series A investment round co-led by Index Ventures and Tiger Global. The SaaS startup helps fintech companies build, run, and evaluate automated decision flows all sans developers having to write complex code.
The new capital is aimed at helping the company further expand in the U.S. market, a geography that has proven particularly successful for the startup, as demonstrated by its 4x client base growth in recent months.
A 2020 Y Combinator alum, Taktile helps companies do more, faster. From bringing products to market to getting ahead of the curve in volatile markets, Taktile is helping today, and tomorrow’s industry titans remove the guesswork from their decision-making processes.
With interest rates on the rise and the pressure for flawless execution no more apparent than in the thriving, for now, fintech industry, Taktile helps these companies improve their unit economics through decision accuracy and risk selection and helps bottom lines grow both now and in the future via a sound portfolio.
The company counts fintechs Branch, Moss, and Rhino amongst its client base, and according to the company, powers over 250,000 decisions per day. Ultimately, this has helped the company realise a growth rate of over 300% in the past 12 months alone.
“Today, too many businesses rely on automated decisions that they rarely revisit, which causes them to overlook critical risks, respond to market changes too late, and thus leave money on the table,” commented Taktile co-founder and CEO Maik Taro Wehmeyer. “By allowing businesses to adjust their decision flows in a quick, easy and data-driven way, we help them optimise decision accuracy, reduce risk, and significantly improve their margins. Combined with our off-the-shelf data integrations across the globe, this not only helps our customers improve their unit economics but also enables them to launch new lending and insurance products fast.”
While the company’s focus has primarily been on fintech services, Taktile says it has broader applications that can be used by any business that is reliant on a complex decision-making process and wants to dive deeper into a data-driven approach.
"Taktile’s platform fills a gaping hole in the fintech stack by unblocking risk teams, enabling them to quickly build, test and evolve their risk models and rules without a heavy dependence on engineering,” commented co-lead investor Index Ventures’ Carlos Gonzales-Cadenas. “I am excited about the product because better risk decisions have a direct bottom-line impact and lie at the heart of every financial product."