NEW YORK, Feb. 28, 2025 /PRNewswire-PRWeb/ — FairPlay, the world’s first Fairness-as-a-Service company, today announced a $10M investment from Infinity Ventures, JPMorganChase , and Nyca Partners. This investment comes as FairPlay reports a threefold increase in business in 2024, demonstrating robust market demand for its AI safety solutions.
FairPlay’s tools help companies using AI to make high-stakes decisions about consumers’ lives identify and correct blind spots in their decisioning systems. FairPlay customers find that the product increases revenue, enables them to stay compliant with regulations, and improves financial health outcomes for consumers. This new funding will accelerate FairPlay’s mission of building fairness infrastructure for the Internet, thereby creating greater safety for all consumers in today’s race to AI adoption.
Infinity Ventures, whose founding team previously led PayPal’s Corporate Development and Venture efforts, brings deep expertise in identifying and scaling innovative financial technologies. “FairPlay’s innovative fairness-as-a-service approach has demonstrated remarkable traction in the market” said Jay Ganatra, partner at Infinity Ventures. “We’ve been particularly impressed by the caliber of institutions adopting FairPlay — including several of the top banks and Fortune 500 companies—because of its robustness and ability to deliver results faster. We believe FairPlay’s technology will become a tool for many institutions using AI to make important decisions.”
JPMorganChase’s Impact Finance & Advisory team invested in FairPlay, seeing the significant opportunities for FairPlay’s approach, leadership, and vision as financial institutions rapidly adopt AI at scale. “FairPlay has built an impressive set of products to help its customers evaluate their models, broaden credit access, and strengthen the financial services ecosystem so that institutions of all sizes can adopt responsible AI practices,” stated Shuman Chakrabarty, Head of Impact Finance & Advisory at JPMorganChase.
Nyca, which led FairPlay’s Series A, also participated in this round. “As early investors in FairPlay, we’ve watched the company consistently execute on its vision,” said Jeremy Solomon, partner at Nyca. “Their impressive growth validates our long-standing conviction in both their mission and their ability to deliver pioneering AI solutions to the market.”
Kareem Saleh, CEO of FairPlay, expressed his enthusiasm about the investment for the company’s future: “This investment from a leading group of investors and financial institutions underscores the growing importance of AI safety in the banking and insurance sectors. We’re thrilled to have the support of such prestigious investors as we enter our next phase of growth. This funding not only validates our mission but also enables us to help more lenders and insurers make decisions that benefit their businesses and their customers.”
About FairPlay
Founded in 2020, FairPlay is the world’s first Fairness-as-a-Service solution, helping organizations address algorithmic bias to improve revenues, keep pace with regulations, and better serve consumers. FairPlay’s technology serves financial institutions, lenders, insurance carriers, and marketers, identifying blind spots in their algorithms and providing automated second looks to improve decisions. To learn more visit: www.fairplay.ai
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