Bussiness
Edinburgh fintech firm to double workforce after £11m injection
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Aveni is expected to increase its staff from 35 to 70 in the next 18 months
1. A Scottish company intends to double its workforce after raising £11 million to help develop artificial intelligence products for the financial services sector.
Aveni is being backed by Puma Private Equity and Par Equity as well as the industry giants Lloyds Banking Group and Nationwide.
The Edinburgh company said much of the money would be put towards creating a specific large-language model for the financial sector, that could eventually allow more customer queries to be answered through artificial intelligence.
Aveni said the funding will also allow it to move to a new base in the Edinburgh Futures Institute at the University of Edinburgh.
Joseph Twigg, chief executive,
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