New Delhi/Mumbai: LUMIQ, an AI-native financial services company, has raised ₹50 crore in a Pre-Series B funding round to accelerate the adoption of autonomous AI-driven decision-making across financial institutions in the United States and Southeast Asia.
The round was led by Bajaj Finserv, one of India’s largest diversified financial services groups, with participation from existing investor Info Edge Ventures.
The latest investment will support LUMIQ’s expansion strategy as the company scales its auto-decisioning capabilities for banks, insurers, and capital market firms.
Unlike conventional AI systems that primarily assist human decision-makers, LUMIQ has built AI agents capable of making regulated financial decisions autonomously while maintaining full auditability and compliance.
Today, LUMIQ serves financial institutions across India, the United States, and Southeast Asia, supporting clients in insurance, banking, and capital markets through its AI-powered LiteCone platform.
Commenting on the fundraise, Shoaib Mohammad, Co-founder and CEO, LUMIQ, said: “Right now, thousands of customers are waiting for a policy to be issued, a loan to be disbursed, a claim to be adjudicated, because somewhere an FSI employee is drowning in decisions, held back by the risk of getting it wrong.
Today, when e-commerce delivers the same day, banks and insurers still decide in weeks. We built LiteCone to take that burden: AI decides the routine cases, completely and accountably, so humans spend their judgment on the one case that actually needs it. This round lets us bring that to every financial institution in the markets that matter most.”
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From AI Assistance to AI Decision-Making
For decades, financial institutions have invested in technology aimed at improving operational efficiency through faster data access, scoring models, and AI copilots.
However, final decisions continued to depend on human intervention. LUMIQ aims to change this paradigm through its LiteCone platform.
The platform deploys AI agents capable of reviewing files, applying institution-specific guidelines, and making end-to-end decisions independently.
Human intervention is required only in cases that genuinely need expert judgment. According to LUMIQ, the resulting decisions are fully explainable, policy-linked, and auditable, enabling institutions to maintain regulatory compliance.
The company highlighted the impact of its AI decisioning platform through deployments in production environments. At a leading life insurance company, LUMIQ’s LEO agent reportedly handles 75–80% of underwriting decisions without human involvement.
The deployment has reduced policy issuance costs by approximately 25% while cutting turnaround times from several days to under eight minutes. The system operates continuously with complete auditability.
Across its customer base in India, the United States, and Southeast Asia, LUMIQ processes millions of financial decisions annually across insurance, banking, and capital market operations.
Vaibhav Dobriyal, Co-founder and Chief Product Officer, LUMIQ, said: “LiteCone turns a real financial-services role into a working AI agent in weeks. Every agent we deploy is consistent, explainable, compliant, and auditable by design — not as an afterthought.
This capital lets us go deeper on the platform and broader across roles. And through our cloud and AI lab partnerships, institutions will increasingly find LiteCone already embedded in the platforms they run today.”
Expansion and Product Development Priorities
According to LUMIQ, the newly raised capital will be deployed across four strategic priorities:
- Expanding go-to-market operations in the United States and Southeast Asia.
- Enhancing LiteCone’s decision-making and auto-decisioning capabilities.
- Extending the AI agent workforce across additional financial services roles.
- Building a broader ecosystem of partnerships with cloud hyperscalers, AI laboratories, and core banking and insurance technology providers.
The company aims to embed LiteCone more deeply into existing enterprise technology environments used by financial institutions.
Investor Confidence in Production-Ready AI
Investors participating in the round cited LUMIQ’s ability to deploy AI agents in live production environments as a key factor behind their investment decisions.
Lakshmi Iyer, Group President – Investments & CEO, Bajaj Alternates, said: “As a financial-services group, we know how much rests on getting regulated decisions right, at speed and at scale.
LUMIQ has built AI agents that decide in production with auditability and control built in, the capability the industry has been moving toward. We are proud to lead this round and to support the team’s expansion across the US and Southeast Asia.”
Girish Jhunjhunwala, Fund Manager – PE and VC Investments, Bajaj Alternates, added: “Our conviction is grounded in what LUMIQ has already built.
Their AI agents aren’t just built for the future. They are operating in production today, at speed. This combination is rare, and its value will only compound as the company scales globally.”
Kitty Agarwal, Partner, Info Edge Ventures, said: “Financial services is one of the hardest categories to crack — regulated, risk-averse, and unforgiving of hype.
LUMIQ has put agentic AI into live financial-services workflows and earned the trust of large institutions across the US, Southeast Asia and India. That is how a category-defining company in financial-services AI gets built, and we are proud to keep backing the team as they scale globally.”
Focus on Auto-Decisioning for Financial Services
LUMIQ stated that its long-term vision is to lead the auto-decisioning category for financial services by enabling AI agents that can act independently rather than merely assist human users.
The company emphasizes that these agents are designed to maintain auditability, compliance, predictability, and control while operating at production scale.
Through its LiteCone platform, LUMIQ converts real-world financial services roles—including insurance underwriters, credit underwriters, and claims adjudicators—into AI-powered agents that are consistent, explainable, compliant, and auditable.
The company combines domain expertise across banking, insurance, and capital markets with advanced AI capabilities. LUMIQ currently employs more than 350 AI and data specialists and operates offices in New Jersey, Singapore, and Delhi NCR.
