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Algebrik AI Inc., a Delaware-incorporated company headquartered in New York City, pioneering the world's first cloud-native and AI-powered digital era Loan Origination Platform, announced that it has successfully secured $4 million in Series A to accelerate the development of its groundbreaking loan origination software. The investment will be disbursed in two phases.
Algebrik is designed to address the challenges faced by mid-tier banks and credit unions in the US, struggling with high customer acquisition costs due to broken omnichannel journeys and manual processes.