Dynamic Works Gains €1.5M in Cyprus Government Funding to Enhance Its Flagship Product

Thursday, 01/08/2024 | 06:52 GMT by Arnab Shome

The government backing came with a prerequisite commitment of €1 million in funding from a regulated fund.

The company aims to integrate mobile technologies and AI into its flagship CRM.

Dynamic Works' CEO signing the agreement with Theodoros Loukaidis, Director General at RIF

Dynamic Works, a technology provider to financial services companies, has secured €1.5 million in funding from the Cyprus Research and Innovation Foundation (RIF) DISRUPT Programme, the company announced. According to the prerequisite of the DISRUPT program, the company also provided a commitment from a regulated fund for an investment of €1 million, bringing the total equity raise to €2.5 million.

Enhancing the Flagship Product

The press release shared with Finance Magnates detailed that the funds will be utilized for technological upgrades to Dynamic Works' flagship product, Syntellicore, a CRM solution for financial services companies. The company aims to integrate mobile technologies and Artificial Intelligence (AI) into the CRM.

Angelos Gregoriou, CEO and co-founder at Dynamic Works Syntellicore — Angelos Gregoriou, CEO and co-founder of Dynamic Works Syntellicore

“We have been working in this industry for 21 years, and our hard work has paid off with strong growth in the last five years, thanks to the success of Syntellicore, our CRM Solution for the financial services,” said Angelos Gregoriou, CEO and co-founder of Dynamic Works.

He further added, “This grant is a big step forward for us in financial technology. It will help us make financial services much more efficient and safer.”

The Disrupt program combines public funding with private equity to support the exponential growth of businesses in the international markets. The program is only open to Cypriot entities with a Minimum Viable Product (MVP) that has undergone beta testing by intended end users and is available in at least one market.

A Collaborative Project

Furthermore, Dynamic Works will work closely with the Research Innovation Foundation and other partners on the “innovation project,” which is set to last for 18 months. The first phase of the project is already underway, as the company has already formed a dedicated AI team.

“We are dedicated to working together to achieve groundbreaking results with RIF’s support,” said George Georgiou, co-founder and Managing Director of Dynamic Works. “This project is the result of many months of planning and hard work. It will set new standards for financial services around the world.”

The company also highlighted that the investment commitment they secured followed a business valuation by KPMG.

Enhancing the Flagship Product

He further added, “This grant is a big step forward for us in financial technology. It will help us make financial services much more efficient and safer.”

A Collaborative Project

The company also highlighted that the investment commitment they secured followed a business valuation by KPMG.

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In the effort to elevate Australian fintech on the global stage, RegTech presents a unique and compelling case. Despite the increasing demand for robust compliance solutions, Australia's RegTech sector—ranked third-largest globally—remains underfunded. Join this insightful fireside chat to explore the future of Australia’s RegTech hub and its global potential. Key discussion points include uncovering the hidden opportunities in RegTech that VCs are overlooking, the necessary steps for increased governmental support, the readiness of the local ecosystem to collaborate across global regulatory regimes, and lessons learned from other leading fintech hubs around the world. Speakers: Dickie Currer, National Lead, Tech Australia Advocates Deborah Young, CEO, The RegTech Association #fmps #fmps24 #fmevents #RegTech #Fintech #AustralianFintech #GlobalCompliance #TechInnovation 📣 Stay updated with the latest in finance and trading! Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today: 🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/ 👍 Facebook: https://www.facebook.com/FinanceMagnatesEvents 📸 Instagram: https://www.instagram.com/fmevents_official 🐦 Twitter: https://twitter.com/F_M_events 🎥 TikTok: https://www.tiktok.com/@fmevents_official ▶️ YouTube: https://www.youtube.com/@FinanceMagnates_official Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!