Arteria AI, an enterprise digital documentation specialist, has received strategic investments from Citi Spread Products Investment Technologies (SPRINT), the strategic investing arm of the bank’s global spread products division, and BDC Capital.
Katya Chupryna, head of SPRINT at Citi said, “Our investment in Arteria AI aligns with our strategy, as the company’s differentiated technology is both widely applicable to multiple Citi businesses including new issuance for structured credit and accretive to our broader ecosystem of portfolio companies. The company has already accumulated significant traction with established financial institutions, demonstrating the immense utility of their technology. A strategic investment into Arteria also represents a great opportunity to support a female-founded and led enterprise FinTech company.”
Arteria’s software has been deployed at financial institutions to support faster and more accurate documentation via a series of product modules that can be used to help draft, negotiate and analyse documentation and contracts.
The system was built to the requirements of institutional banking and trading firms, from primary and secondary capital markets, to lending, prime brokerage, structured finance, transaction banking and private equity.
“Arteria is approaching the complex document data challenges of financial institutions with a forward-thinking approach, reflecting their deep understanding of financial documents,” said Christina Wojcik, director, legal innovation at Citi.
This investment, co-led by BDC Capital, which helps develop high-growth businesses in Canada, also signals the launch of Arteria AI’s new regional bank offering.
Mark Trevitt, partner at BDC Capital said, “We are delighted to strategically partner with Arteria AI to improve the efficiency of lending processes within financial services. Working with Shelby Austin and her team also furthers our mission to support the development of iconic Canadian entrepreneurs and companies.”
Citi and BDC Capital join investors Information Venture Partners and Illuminate Financial, along with StandUp Ventures and Golden Ventures. The capital could accelerate Arteria’s growth and adoption of its low-code, data-centric approach to documentation. The amount and terms of the investment are undisclosed.
©Markets Media Europe, 2022
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