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Parcha AI, Founded by Ex-Coinbase Exec, Completes $5 Million Seed Round

Parcha AI, a generative artificial intelligence financial technology startup founded by former Coinbase Senior Product Director AJ Asve, has announced the completion of a $5 million seed round of financing. Participating investors include Kindred Ventures, Initialized Capital, angel investor and YC President Garry Tan, Datadog President Amit Agarwal, and Google Vice President of Product Bradley Horowitz. The funds will be used to continue building its products and hiring more employees.

It is reported that Parcha AI primarily helps financial technology companies, including cryptocurrency companies, achieve physical labor automation, using large language models to process fraud detection, understand business compliance, customer acquisition, and other operations. Currently, its clients include cryptocurrency payment company Bridge and US financial services and technology company Brex.

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