Digital retirement solutions firm receives $6.5m investment

The news means that total investment in ABAKA to date has now reached $10 million, with the firm receiving one of the biggest investments in technology for the pensions and retirement space.

ABAKA will use the funding to continue to invest in research and development, including the application of AI to deliver new and innovative retirement solutions for its enterprise clients.

ABAKA is using AI to revolutionise how financial services providers help their clients financially plan for the future. The firm uses AI technologies such as its chatbot AVA and intelligent personalised nudges to improve customer engagement and deliver a digital experience which benefits both the organisation and its clients.

Fahd Rachidy, founder and CEO at ABAKA, said: “ABAKA is a leader in delivering digital solutions for the pensions and retirement sector. It’s great to see our investors supporting our innovation in this market. In a world of hyper-personalisation and digital experiences, financial services companies across the globe face the challenge of engaging their customers to plan for a financially secure retirement and the pensions sector is calling out for innovation.

“At ABAKA, we believe that harnessing AI-led solutions has the potential to revolutionise the retirement and savings industry, using what we call Artificial Financial Intelligence to help financial services companies better engage their clients in financial planning.

“We’re incredibly excited about what we’ve started here at ABAKA. The completion of our Series A investment round marks another step in our journey to delivering solutions which can help more people to enjoy a financially secure retirement.”