The AI financial company Parcha AI, founded by former Coinbase executives, has completed a $5 million seed round of financing, with participation from Kindred Ventures and others

ChainCatcher news, according to Forbes, generative artificial intelligence fintech startup Parcha AI, founded by former Coinbase Senior Product Director Asver, announced the completion of a $5 million seed round financing. Kindred Ventures and Initialized Capital, along with angel investors such as YC President Garry Tan, Datadog President Amit Agarwal, and Google Product Vice President Bradley Horowitz, participated in the funding, which will be used to continue building its products and hire more employees.

Parcha AI primarily helps fintech companies, including crypto companies, automate manual labor, using large language models to handle operations such as fraud detection, understanding business compliance, and customer acquisition. Its current clients include crypto payment company Bridge and U.S. financial services and technology company Brex.