LUMIQ, an AI-native financial services company, has raised a strategic funding round led by Bajaj Finserv to expand its autonomous decisioning platform across the United States and Southeast Asia. Existing investor Info Edge Ventures also participated. The company's AI agents already process millions of regulated decisions annually for banks, insurers, and capital markets firms, moving beyond advisory tools to agents that own the final call.
"Right now, thousands of customers are waiting for a policy to be issued, a loan to be disbursed, a claim to be adjudicated, because somewhere an FSI employee is drowning in decisions, held back by the risk of getting it wrong," said Shoaib Mohammad, Co-founder and CEO of LUMIQ. "Today, when e-commerce delivers the same day, banks and insurers still decide in weeks. We built LiteCone to take that burden: AI decides the routine cases, completely and accountably, so humans spend their judgment on the one case that actually needs it."
From AI that assists to AI that decides
For decades, financial institutions bought technology that made employees faster - faster data, faster scoring, faster copilots. The decision still rested with a person. LUMIQ's LiteCone platform deploys AI agents that read the file, apply the institution's own guidelines, and reach the decision end to end. Escalations happen only when a case genuinely requires human judgment. The output is not a recommendation. It is a decision, with full reasoning attached, cross-referenced to policy, and defensible under audit.
Vaibhav Dobriyal, Co-founder and Chief Product Officer, said: "LiteCone turns a real financial-services role into a working AI agent in weeks. Every agent we deploy is consistent, explainable, compliant, and auditable by design - not as an afterthought. This capital lets us go deeper on the platform and broader across roles."
This focus on production-ready AI Agents & Automation that operate within tight regulatory constraints is rare. The agents do not assist - they act, and they do so with the same controls a human would face.
Production results at scale
At a leading life insurer, LUMIQ's LEO agent decides 75-80% of underwriting cases with zero human touch. Policy issuance costs dropped roughly 25%, and turnaround compressed from days to under eight minutes, running 24x7 with complete auditability. Across its client base in India, the US, and Southeast Asia, the company now processes millions of decisions annually.
Where the funding goes
The round will fund four priorities: expanding go-to-market in the US and Southeast Asia, deepening LiteCone's decisioning capabilities, extending the agent workforce across more financial-services roles, and building a partnership ecosystem with cloud hyperscalers, AI labs, and core platform providers. This means financial institutions will increasingly find LiteCone embedded directly into the infrastructure they already run.
Investor conviction grounded in live deployments
Bajaj Finserv's investment reflects a firsthand understanding of the stakes. "As a financial-services group, we know how much rests on getting regulated decisions right, at speed and at scale. LUMIQ has built AI agents that decide in production with auditability and control built in, the capability the industry has been moving toward," said Lakshmi Iyer, Group President - Investments & CEO, Bajaj Alternates.
Girish Jhunjhunwala, Fund Manager - PE and VC Investments at Bajaj Alternates, added: "Their AI agents aren't just built for the future. They are operating in production today, at speed. This combination is rare, and its value will only compound as the company scales globally."
Info Edge Ventures echoed that sentiment. "Financial services is one of the hardest categories to crack - regulated, risk-averse, and unforgiving of hype. LUMIQ has put agentic AI into live financial-services workflows and earned the trust of large institutions across the US, Southeast Asia and India," said Kitty Agarwal, Partner at the firm. "That is how a category-defining company in financial-services AI gets built."
Why this matters for finance professionals
For underwriters, claims adjudicators, and credit officers, LUMIQ's expansion signals a shift in how routine decisions get made. The AI for Finance layer is no longer just a copilot - it is taking ownership of the high-volume, rule-based work that currently clogs queues. The people left in the loop will focus on exceptions and complex judgment calls, while the AI handles everything else with a timestamped audit trail. As LiteCone scales, professionals across banking and insurance should expect their tools to move from suggesting answers to delivering them, with the same regulatory standards they work under today.
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