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Auquan, an AI-powered analytics engine provider for the financial industry, raised an additional $4.5 million in its seed funding round led by Peak XV’s Surge, with participation from Neotribe Ventures.

With this, the London-based startup has raised a total seed funding of $8 million.

“The financial world is a fast-paced, high-pressure environment with time as the most valuable asset. Auquan empowers financial professionals to reclaim their time by automating the mundane tasks that drain their productivity on an industrial scale,” said Chandini Jain, Co-founder and CEO of Auquan, in a statement.

“Three years from now, the brightest minds in finance will look back and wonder why they ever had to spend days sifting through hundreds of documents and typing up lengthy reports and memos, with the power of AI,” she added.

The company will allocate the capital to expand its engineering team in Bengaluru by hiring talent in AI/ML and streamlining knowledge-intensive financial workflows using AI.

The team will further work on developing the company’s Retrieval-Augmented Generation (RAG) and AI agent architecture to address the financial sector’s most complex workflow challenges.

“Auquan’s remarkable growth and customer traction validates our belief that they’re uniquely positioned to solve a critical challenge in finance: freeing highly skilled teams from the grind of wading through noisy data, performing undifferentiated work to support high-impact decisions. We’re thrilled to support Auquan as they revolutionise deep work productivity and decision-making in finance,” said Swaroop Kolluri, Founder and Managing Partner of Neotribe.

Auquan caters to prominent global asset managers, investment banks, and private equity firms such as UBS, Federated Hermes, and BC Partners for analysis, decision-making, and operational efficiency.

Similar to the advanced reasoning capability seen in OpenAI’s o1 model, Auquan’s RAG-based architecture helps to handle deep knowledge workflows by cutting them into specific tasks.

The company offers data on over 550,000 global public and private companies and access to over two million public and subscription data sources. This data, available in over 65 languages, includes native processing for the 30 largest economies and essential supply chain hubs like India, the US, the UK, Europe, Latin America, Southeast Asia, and China.