16 February 2024

PayPal invests in conversational AI firm Rasa

Written By FinTech Alliance

PayPal invests in conversational AI firm Rasa

PayPal Ventures has co-led a $30mn Series C funding round for generative conversational AI platform Rasa.

In brief:

- Rasa powers AI assistants for a host of major firms, including two of the world's top three banks and several insurers.

- The investment is the first for PayPal Venture's new AI fund, where funding will be used to make hires in North America and Europe in marketing, sales, engineering and customer success.

- Last month, PayPal unveiled a host of new AI-driven features for the new year designed to drive personalisation for both merchants and consumers.

What does this mean?

Alan Du, PayPal Ventures partner, says: “We believe Rasa offers a best-in-class platform for enterprises to develop robust, conversational AI, and we have seen how its concierge solutions improve customer engagement and business performance.”

Read more here.

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