Interface.ai, a cutting-edge customer automation platform tailored for banks and financial institutions, has successfully closed a $30 million funding round led by Avataar Venture Partners. This funding marks a significant milestone for the startup, which had previously operated without outside capital, relying solely on bootstrapping.
Of the total amount raised, $20 million came in equity, while the remaining $10 million was secured through debt financing. CEO and co-founder Srinivas Njay shared that Interface is already trusted by over 100 financial institutions across North America, processing millions of interactions daily and generating tens of millions in annual recurring revenue.
The concept for Interface was inspired by Njay’s father, who owned a credit union in India. Njay, who previously worked at Microsoft and EA, teamed up with Bruce Kim, founder of customer management company Inovaware, to launch Interface in 2019.
“The big national banks are heavily investing in AI to transform their operations,” Njay explained. “However, many regional and community banks find staffing these capabilities challenging. Interface democratizes access to AI, making it achievable for all financial institutions.”
Interface’s flagship product features a suite of voice- and text-based AI agents designed to handle common customer service requests. Trained on in-house data, these agents can assist with tasks such as modifying mortgage payments and opening new accounts. Banks can customize these agents further by fine-tuning them to fit their internal data and can even configure them to upsell products based on customer interactions.
“Our AI is specifically designed for the banking industry,” Njay noted, highlighting its pre-built integrations, data models, and workflows. As the banking sector increasingly explores AI and generative AI applications—from customer service to predictive analytics—more than half of global and U.S. banks plan to implement some form of generative AI in the next year.
Despite the growing interest in AI, customer trust remains a hurdle. A J.D. Power poll revealed that only 27% of banking customers would trust AI for financial advice, and fewer than half would consider product recommendations from AI. Nevertheless, credit unions—one of Interface’s largest customer segments—have been rapidly adopting chatbot technology this year.
Njay remains optimistic about Interface’s versatility, stating, “Our platform has multiple levers for creating value, which helps us weather potential challenges.”
With the fresh funding, Interface plans to expand its 120-person team across North America and India and accelerate its go-to-market strategies. The future looks bright as Interface.ai positions itself to reshape customer interactions in the banking sector.
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