AI Startup Gradient Labs Raises £9.6m to Transform Customer Service in FinTech
Gradient Labs secured £9.6m to develop AI agents that handle 90% of customer queries in regulated FinTech, cutting costs by 75% and easing agent stress. Their AI boosts response speed and quality while ensuring compliance.
AI Enhances Customer Support in Regulated FinTech Industries
An AI startup focused on improving customer service in regulated sectors, including FinTech, has secured £9.6m in Series A funding. Backed by former Monzo CEO Tom Blomfield, Gradient Labs develops AI agents that address the increasing expectations of customers and the strain on service agents.
Research shows 66% of customers expect responses within minutes, while one in three leave after just one poor experience. Service agents face high job-related stress, with 87% reporting significant strain. AI tools help by speeding up responses and lightening workloads, but many current solutions only address part of the problem.
How Gradient Labs’ AI Agent Works
Gradient Labs’ technology automates the entire customer operations cycle, covering everything from frontline support to back-office tasks. Their AI agent handles up to 90% of queries with a 98% quality assurance pass rate, outperforming human agents and other chatbots. This efficiency can reduce operational costs by 75%, making it an attractive option for companies aiming to improve service while controlling expenses.
Investment and Industry Support
The funding round was led by Redpoint Ventures and included investments from Localglobe, Puzzle Ventures, Liquid 2 Ventures, and Exceptional Capital. Tom Blomfield commented on the importance of solutions like Gradient Labs, highlighting the challenge regulated businesses face in balancing compliance and innovation.
“Having spent years scaling a top UK neobank, I understand the complex challenges regulated businesses face in balancing compliance and innovation,” Blomfield said. “Purpose-built solutions such as Gradient Labs are critical to bridging the gap, and I’ve seen first-hand the safety and service quality improvements that leading UK FinTechs – those truly determined to deliver exceptional support – are achieving using its technology.”
Addressing Challenges in Financial Services
Dimitri Masin, CEO of Gradient Labs, explained the dilemma faced by financial service companies: customers demand immediate service, but strict regulations make adopting new technologies difficult. With nearly ten years of experience automating operations in a major UK bank, the team understands the high cost of errors in customer operations.
He added, “This funding round is further proof of the sheer demand for a safe and reliable AI customer service agent for regulated industries.”
Why This Matters for Customer Support Professionals
For those working in customer support, especially within regulated industries, AI solutions like Gradient Labs’ offer a path to reduce repetitive tasks and improve response times without compromising compliance. This means less burnout and better service quality.
To explore how AI can improve your customer support workflows and reduce operational burden, consider training resources on AI tools and automation available at Complete AI Training.
