Rulebase, a Y Combinator-backed fintech startup, has raised $2.1 million in pre-seed funding to automate back-office operations in financial services.
Founded in 2024 by Nigerian engineers Gideon Ebose and Chidi Williams, Rulebase develops an AI-powered “Coworker” platform that automates critical back-office tasks such as compliance checks, dispute resolution, and quality assurance. Unlike traditional methods that review only 3–5% of customer interactions, Rulebase’s solution evaluates 100% of communications, ensuring comprehensive compliance and reducing operational costs by up to 70%.
The funding round was led by Bowery Capital, with participation from Y Combinator, Commerce Ventures, Transpose Platform VC, and several angel investors. This investment will enable Rulebase to expand its engineering team and enhance features related to fraud investigation, audit preparation, and regulatory reporting.
Rulebase’s platform is already deployed with clients including U.S. business banking platform Rho, where it has reduced escalations by 30%, and a Fortune 50 financial institution. The company’s approach addresses the significant challenge faced by financial services firms, which annually spend billions on compliance and back-office operations. By automating these processes, Rulebase aims to improve efficiency and scalability in the sector.
The founders, Ebose and Williams, bring extensive experience from their previous roles at Microsoft and Goldman Sachs, respectively. Their vision for Rulebase is to transform the back-office operations of financial institutions by leveraging AI to handle complex workflows, thereby allowing human agents to focus on higher-value tasks. Looking ahead, Rulebase plans to expand its offerings to include fraud detection and regulatory reporting, further enhancing its value proposition in the fintech space.
With this new funding, Rulebase is poised to play a pivotal role in reshaping the back-office operations of financial institutions, driving efficiency and compliance through innovative AI solutions.
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