The fintech startup will use funding to accelerate adoption of its automation software for lending, compliance, and operations in financial institutions.
Fintech firm Saris has raised $28.8m in a Series A round led by 8VC, with participation from Audacious Ventures, Homebrew, Btech Consortium, and Service Ventures. The funds will support expansion of its AI-driven workflow software for banks and credit unions, targeting routine processes in lending, compliance, and operations.
Saris claims its system can reduce task times from hours to minutes, automate up to 70% of work in consumer, mortgage, and commercial lending, and cut costs by as much as 35%. The company focuses on integrating with existing financial institution processes while maintaining human oversight.
The funding will also strengthen partnerships with firms like Fiserv, Encompass, and MeridianLink, and expand training and implementation teams. Saris highlights growing pressure on financial institutions to modernize amid faster technological change and rising customer demands.