Zinia AI

Idea

Introduction

Zinia empowers organizations to optimize their business outcomes with Decision Intelligence AI. Our cloud hosted platform, enables commercial teams directly to build generative decision AI models without a dependence on technical teams. Zinia’s founders have substantial experience of AI in financial services in blue chip organizations.

* Based on unaudited management accounts

We believe Zinia is well positioned to capture the $11B global market for AI driven decisioning for financial institutions, growing at 24% CAGR. The Zinia platform is currently a dedicated SAAS solution for financial services, particularly focussed on consumer lending, an area of growing concern due to the current inflationary environment. We have partnerships with data providers, for example for open banking, so that highly customised and business purpose customer decision models can be built and used by businesses.

The multi-award winning Zinia AI platform is designed to democratise access to Generative AI for businesses of all sizes across the globe.

Substantial accomplishments to date

Founding team

The Zinia team has decades of experience in AI, coming from both industry and academic backgrounds. This has enabled the creation of a business-focused AI platform that puts highly sophisticated technologies such as Generative AI at the core. Our Chief Scientist, Dr. Alessandro Abate is a professor of AI at the Oxford University. We have also established a super experienced advisory board of 4, which includes Dr. Richard Harmon, global leader of financial services for Redhat.

Product & Technology

Zinia AI platform was launched to market in Q4-2022 at the Web summit event in Lisbon, after 3+ years of dedicated Research & Development.

Zinia has won awards such as Innovate UK from the government (CIRCA 4.4% win rate) and from Morgan Stanley Innovation Lab.

Business Development

The business was featured in top 101 fast growing ML startups in London by the Best Startup Magazine in 2022.

Since our launch of the platform in Q4 of last year, we have engaged with multiple customers globally and our revenues have increased by 90% from Q1-23 to Q2-23.

Zinia has partnerships with Open Banking provider such as DirectId and technology providers such as Snowflake and Redhat as indirect routes to market.

Funding

The company has raised £650K of funding to date, with its first round raised in Dec-2020 with participation from angels from the Oxford Innovation Capital and other senior professionals in the Financial Services sector.

Monetisation strategy

Zinia's ideal customer profile is a business manager, demanding better and faster customer decisions in real time across operations. Although, the platform technology is industry agnostic at the core, we have a focused 'use case led' strategy for our sales process. We are targeting mid to large financial services companies, focused on credit lending.

We have established direct sales processes and have multiple partnerships like DirectID, Redhat, Snowflake in place for indirect sales.

The customers have the options of buying Zinia licences, starting at £999 per month per user or they can pay per user based on the number of data records used on the platform. There is a free trial period of 21 days, restricted to 50 hours platform usage.

We have a dedicated customer success function designed to help cross-sell and help our customers get the best value from the Zinia platform. This monetisation strategy is designed to maximise the average revenue per customer and so achieve high gross margins.

Use of proceeds

Zinia AI platform was released to the market in Q4-22. Since then, it has been sold to multiple customers globally. Funding is sought to support the scaling of the business to target customers in financial services (& beyond). This funding round enables Zinia to further accelerate our customer acquisition programme, improving our recurring revenues from both direct and indirect channels.

Around 50% of the funding from this round will be dedicated to further enhancing the Sales & Marketing functions, including new hiring in Sales. Around 40% of the funding will be used to further develop the product with continued R&D and support the customer success programmes for cross selling and upselling within organisations.