Gradient Labs, an AI-driven customer service startup established by former Monzo employees, has successfully raised £2.8 million in a seed funding round led by LocalGlobe.
The company specializes in creating large language model (LLM) based autonomous agents that emulate human behavior to manage tasks for businesses, particularly those in high-risk sectors such as fintech.
The startup has already secured partnerships with ten companies, including four in the fintech industry, and intends to generate revenue by charging fees for successful outcomes. Gradient’s AI agents are equipped to identify vulnerable customers and are programmed to steer clear of providing financial advice, with a system in place to redirect such cases as necessary.
These autonomous agents function within a “Notion-style interface,” where experts can input processes for common customer inquiries, allowing the agents to efficiently handle requests. Gradient Labs envisions that automation will transform customer support, with a goal to automate 70 to 80% of tasks in the coming years.
The fintech sector is increasingly exploring AI solutions, with companies like Gradient leveraging their regulatory compliance experience to build trust with stakeholders. Neobanks such as Bunq and Lunar are already utilizing chatbots for customer service, while other firms like Defacto are using AI for creditworthiness evaluations.
