Vilnius-based AI-powered fintech BoBo raises €6.5M in seed investment round

Bourgeois Boheme (BoBo), an AI-powered fintech company, has raised a €6.5M seed round led by Austrian investment firm Graphit Lifestyle.

Founded in Vilnius in 2018 by Hugo Gomez, Simon Isaev, and Juliana Würms, BoBo is a financial service that allows transactions with large sums of money, for instance, card transactions of up to €1M. The solution uses security systems, which are enhanced by AI database analysis. They help to recognize unusual customer behavior, and immediately notify about any suspicious activities to identify potential fraud risks.

The platform provides a secondary account management system that allows authorized third parties to conduct transactions on behalf of the primary account holder, manage invoices, and control family expenses. BoBo allows clients to manage payments for their family and children, make emergency account freezing, set limits for employees while giving them access to funds, share high limits for transfers, payments, and cash withdrawals from ATMs with the inner circle, etc. The startup provides the possibility to embed a payment chip to enable transactions into watch straps, car gloves, key fobs, or jewelry. BoBo operates under EEA and UK Electronic Money Institution (EMI) licenses and approved by Mastercard.

The startup will use the investment to develop the service further and expand the functionality for managing high-volume payments. The company plans to add an administrative panel for third-party management and open the MENA region.