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.

“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.