Interface.ai, a provider of AI-powered customer service solutions for banks and credit unions, has secured $30 million in its first-ever external funding round. The investment, led by Avataar Venture Partners, comprises $20 million in equity and $10 million in debt financing.
The funding marks a significant shift for the San Francisco-based company, which has operated entirely on bootstrapped capital since its founding. Interface.ai has built a substantial business serving around 100 financial institutions, generating tens of millions in revenue through its AI-powered platform that handles customer service for community banks and credit unions.
The company's AI technology resolves up to 60% of customer inquiries automatically through voice, chat, and co-pilot experiences. This automation helps smaller financial institutions compete with larger banks by offering faster customer service while reducing operational costs.
"This funding will allow us to accelerate the transformation of self-service in banking through agentic AI," says Srinivas Njay, CEO of interface.ai. The company plans to use the new capital to expand its team, enhance its product offerings, and strengthen customer support services.
Njay’s motivation for building Interface.ai stems from his personal experiences in the community banking sector, influenced by his father’s work in a credit union that served middle-class families. Njay sees Interface.ai not merely as a tech company but as a tool to democratize financial wellness, ensuring that people from all backgrounds can access high-quality, personalized financial advice.
Nishant Rao, Founding Partner at Avataar Venture Partners, sees significant potential in interface.ai's approach. "Sri and Bruce have done a stellar job in building an at-scale company from the ground up," says Rao. "We are super inspired by their future vision to better serve and impact over 150 million American lives."
The funding comes at a time when interface.ai is experiencing growing demand from financial institutions seeking to modernize their customer service operations. The company's technology integrates with existing banking systems to handle everything from routine inquiries to complex transactions, while offering personalized financial advice to customers.
Looking ahead, interface.ai plans to expand its reach to over 1,000 financial institutions. The company will also invest in advancing its AI capabilities to meet evolving regulatory and compliance requirements in the banking sector.