Banking Challenger Aidexa Secures €45 Million

Italy-based banking challenger Aidexa has secured €45 million in funding through a seed round, Crowdfund Insider reports.

Established by Roberto Nicastro, former GM at Unicredit, Aidexa plans to leverage artificial intelligence (AI) and Open Banking to help Italian SMEs with streamlining their banking and overall business operations. Aidexa will focus on serving small businesses with a turnover of less than €10 million.

Aidexa’s management noted that they plan to hire around 100 staff members in the coming months. The challenger bank aims to break even within the next 3 years. It also plans to serve at least 100,000 customers in the next 5 years.

Read more: Crowdfund Insider