London-headquartered fintech Paddle is launching an AI programme for startups supported by $10m (£7.6m) from Founderpath’s SaaS fund.
In brief:
-Founderpath, a US firm providing revenue-based financing, has made the capital available for the startups that finish the six-week Paddle AI programme.
-One founder will also receive a $25,000 (£19,100) cash prize from the FinTech firm.
-It came not long after Paddle raised £162m in a Series D raise and achieve a $1.4bn valuation.
What does this mean?
Christian Owens, founder and executive chairman of Paddle, said: “2023 has seen a generative AI boom, with companies in the space securing $1.3bn in the last few months. However, having a great product is just the first challenge in a very competitive space.”
