Start-up Check: WeR wants to bring behavioral analysis into the world of finance
Mastercard and the Liechtensteinische Landesbank are already relying on the Viennese start-up. Now major US banks are showing interest in the company that uses AI to help understand how customers tick.
Frankfurt - Austrian entrepreneur Michael Berl aims to bring behavioral analysis powered by artificial intelligence (AI) to the financial world. WeR, his start-up, has already secured clients such as credit card provider Mastercard and the Liechtensteinische Landesbank. Berl asserts that financial institutions possess an unprecedented amount of data, yet few focus on the individuals behind the numbers.
By employing behavioral AI to analyze how humans think, decide, and act, Berl intends to revolutionize the global financial sector. This approach resonates with several investors. In a recent pre-seed financing round, WeR raised four million euros. The pre-seed stage represents the initial funding for a start-up, typically utilized for product development and team building prior to market entry.
Berl anticipates another funding round at the beginning of the year, which could reach the six-figure range. Notable investors include Felix Porsche, Hansi Hansmann, Stefan Barth, Philipp Kinsky, and Enver Sirucic, the CFO and Deputy CEO of the Bawag Group AG.
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