Arteria AI announces strategic investment co-led by Citi SPRINT and BDC Capital –

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NEW YORK & LONDON & TORONTO–(BUSINESS WIRE)–#AIArteria AIan award-winning global leader in digital corporate documentation, today announced that it has received strategic investments from Citi SPRINT (Spread Products Investment Technologies), the strategic investment arm of the bank’s Global Spread Products division, industry leader, and BDC Capital.

Arteria’s software has been deployed at many leading global financial institutions to provide customers with fast and accurate documentation experiences, while reducing the cost and risk of doing business.

Arteria uses artificial intelligence and a data-driven approach in its mission to make documentation processes smooth. Arteria includes a series of product modules that can be used to help draft, negotiate and analyze documentation and contracts. Unlike standard digital document platforms (also known as Contract Lifecycle Management or CLM), Arteria has been designed to meet the specific requirements of the institutional banking and commercial sector. It improves the efficiency of document and data management processes, from the simplest to the most complex segments of finance, from primary and secondary capital markets to loans, prime brokerage, structured finance, transaction banking and private equity.

“Arteria addresses 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.

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 broadly applicable to multiple Citi businesses, including structured credit new issuances, and accretive to our broader ecosystem. wide of holding companies. The company has already built up significant traction with established financial institutions, demonstrating the immense utility of their technology. A strategic investment in Arteria also represents a great opportunity to support a FinTech company founded and led by women.

This investment, co-led by BDC Capital, which helps build high-growth businesses in Canada, also marks the launch of Arteria AI’s new regional banking 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 reinforces our mission to support the development of iconic Canadian entrepreneurs and businesses.

Citi and BDC Capital join leading FinTech investors Information Venture Partners and Illuminate Financial, as well as StandUp Ventures and Golden Ventures. The capital will accelerate Arteria’s global growth and adoption of its differentiated, low-code, data-centric approach to documentation. The amount and terms of the investment are not disclosed.

The strategic investment round follows Arteria AI’s Series A in April 2021, where it raised US$11 million just five months after the company was founded. Shelby Austin, CEO of Arteria AI, said, “This investment is a strong signal that Arteria uniquely addresses the documentation challenges faced within institutional finance. We are delighted that Citi and BDC Capital recognize that our technology and the specialized nature of our multidisciplinary team are highly differentiated.

About Arteria AI

Powered by data, Arteria AI trusted by the world’s largest banks to transform customer document processes enterprise-wide, working smarter and faster to maximize revenue and save time and money. Arteria AI’s customer documentation solution removes the need for legacy manual processes by structuring data across the documentation lifecycle to accelerate decision-making processes for all stakeholders through a highly efficient front-end. intuitive.

Designed by subject matter experts, data scientists and technologists, Arteria AI’s solution unleashes the power of data to help global and regulated financial institutions solve the complexity of customer documents at scale. Taking an innovative data-driven approach, our AI-powered enterprise-ready solution eliminates the friction of the paper trail.

About BDC Capital

BDC Capital is the investment arm of BDC, the bank for Canadian entrepreneurs. BDC Capital is a strategic partner of the most innovative companies in the country. It offers companies a full range of capital, from seed investments to growth capital, supporting Canadian entrepreneurs who have the ambition to stand out on the world stage. Visit bdc.ca/capital.

About Citi

Citi, the world’s largest bank, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Citi provides consumers, businesses, governments, and institutions with a wide range of financial products and services, including personal banking and lending, corporate and investment banking, securities brokerage, transaction and wealth management services.

contacts

Sarah Finney, Streets Consulting

email: [email protected]
m: +44 (0)7772 099828

Carmen Rey, Streets Consulting

Email: [email protected]
m: +44 (0)7935 717777

Patricia Tuma, Citi

email: [email protected]

Rekha Jogia-Soni, Citi

Email: [email protected]
Such. : +44 (0) 207 500 2843

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