Citi SPRINT and BDC Capital to Invest in Arteria AI Collaboratively

Citi SPRINT and BDC Capital to Invest in Arteria AI Collaboratively
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Arteria AI a digital documentation pioneer boosts the significance of your contracts by generating and digitizing the documents before their execution creating sets of robust data that enable the user to identify problems, explore the opportunities and drive value for your firm. The company has put out that it has received investments from BDC Capital and Citi SPRINT (Spread Products Investment Technologies). The investment will enable Arteria outreach itself globally and follow its data-centric, differentiated, and low-code approach to documentation.

To bring a frictionless documentation process, Arteria uses a data-first approach and the power of artificial intelligence. To draft, negotiate, and analyse documentation and contracts, Arteria offers numbers of significant product modules.

BDC Capital is a unit of Business Development Bank of Canada (BDC) and offers a comprehensive service platform for specialized financing that includes venture capital, equity & growth, and business transition capital. It aims to create and grow strong Canadian businesses through consulting, financing, and securitization by focusing on small and medium-sized enterprises.

Katya Chupryna, Head of SPRINT, Citi, commented, “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.”

Citi SPRINT (Spread Products Investment Technologies) invests in and incubates innovative financial institutions that offer strategic relevance and modern solutions to Credit Markets. SPRINT with its market expertise and network help portfolio companies outreach its business and commercialize their cutting-edge technologies.

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

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