The technology startup Auquan has reportedly raised $4.5 million in a seed funding round led by Peak XV’s Surge and Neotribe Ventures, bringing the company’s total seed funding to $8 million.

Auquan specializes in automating complex tasks within the financial services industry. Financial institutions like UBS, Federated Hermes, and BC Partners utilize Auquan’s software for various functions, including investment, credit analysis, due diligence, risk monitoring, and ESG assessment.

By leveraging AI, Auquan accelerates multiple stages of financial workflows, improving speed and efficiency.

With this funding, Auquan plans to expand its engineering team in Bengaluru to attract top talent. The company’s goal is to automate complex financial workflows using Retrieval Augmented Generation (RAG) AI technology.