Dallas-based Uptiq raised $25 million in Series B funding to eliminate the manual document reviews and spreadsheets that still plague traditional banking. The round was led by Curql, a strategic fund backed by credit unions, with participation from Silverton Partners and 645 Ventures.
The big picture: While the banking sector is eager to adopt automation, most institutions struggle to move past pilots due to fragmented systems. Uptiq provides an “orchestration layer” called Qore that connects to core banking systems to automate commercial underwriting, client onboarding, and loan servicing.
By the numbers:
- 140+: Financial institutions currently live on the platform.
- $1B+: Total loan balances processed over the past 18 months.
- 41%: Faster underwriting reported by early adopters without adding headcount.
The catch: Despite the promise of speed, Uptiq enters a market where “production-ready” is often synonymous with “rigid.” Financial institutions are notoriously slow to integrate third-party orchestration layers into their legacy stacks, and a typical deployment still takes up to four months to go live. Furthermore, as seen in other compliance automation efforts, the “human-in-the-loop” requirement remains a significant friction point; if the AI’s output requires a senior underwriter to second-guess every document, the efficiency gains quickly vanish.
Key Details
- Funding: $25M (Series B)
- Lead: Curql
- CEO: Snehal Fulzele
- Sector: Fintech / AI Infrastructure
