While most AI in financial services remains advisory, LUMIQ has built the layer that makes the decision: autonomous, controllable AI agents making regulated calls in production at leading banks, insurers and capital markets firms. Today, LUMIQ serves clients in India, the United States and Southeast Asia – leading institutions in the insurance, banking and capital markets.
NEW DELHI and MUMBAI, India, June 19, 2026 /PRNewswire/ — LUMIQ, an AI-native financial services company, today announced a strategic funding round to scale automated decision-making for financial institutions in the United States and Southeast Asia. The round was led by Bajaj Finserv, one of India’s largest and most diversified financial services firms, with participation from existing investor Info Edge Ventures.
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 officer is drowning in decisions, held back by the risk of being wrong. Nowadays, when e-commerce is delivered the same day, banks and insurers still decide within a few weeks. We built LiteCone to take on that burden: AI decides the routine cases, fully and responsibly, so that people base their judgment on the one case that actually needs it. With this round, we can bring that to every financial institution in the markets that matter most.
Shoaib Mohammad, co-founder and CEO of LUMIQ
From AI that assists to AI that decides
For decades, financial institutions have bought technology that made their people faster: faster data, faster scores, faster copilots. The decision still fell to a human. LUMIQ changes that. Through its LiteCone platform, the company deploys AI agents that read the file, apply the institution’s own guidelines and make the decision from start to finish, escalating only those cases that require real human judgment. The output is not a recommendation. It is a decision, fully justified, with references to policy, and defensible under scrutiny.
The results in production speak clearly. At a leading life insurer, LUMIQ’s LEO agent decides 75 to 80% of underwriting cases without human intervention, reducing policy issuance costs by approximately 25% and shortening turnaround time from days to less than eight minutes – 24×7 with full auditability. Across its customer base spanning the insurance, banking and capital markets in India, the US and South East Asia, LUMIQ now processes millions of decisions every year.
LiteCone turns a real financial services company into a working AI agent in just a few weeks. Every agent we deploy is consistent, explainable, compliant and auditable by design – not an afterthought. With this capital we can go deeper into the platform and more broadly across the different roles. And thanks to our cloud and AI lab partnerships, institutions will increasingly find that LiteCone is already embedded in the platforms they use today.
Vaibhav Dobriyal, Co-Founder and Chief Product Officer, LUMIQ
This round will fund four priorities: expanding go-to-market in the US and Southeast Asia; deepening LiteCone’s decision-making capabilities; expanding the agent workforce into more financial services roles; and building a partnership ecosystem with cloud hyperscalers, AI labs, and key banking and insurance platforms to embed LiteCone where institutions already operate.
LUMIQ’s investors supported the round for the same reason its customers are adopting LiteCone: agents who already make decisions about production, with built-in auditability and control.
As a financial services provider, we know how much goes into getting regulated decisions correct, quickly and at scale. LUMIQ has built AI agents that make decisions during production, with built-in auditability and control, the capability the industry is moving towards. We’re proud to lead this round and support the team’s expansion across the US and Southeast Asia.
Lakshmi Iyer, Group President – Investments and CEO, Bajaj Alternates
Our belief is rooted in what LUMIQ has already built. Their AI agents aren’t just built for the future. Nowadays they are in production at high speed. This combination is rare and its value will only increase as the company scales globally.
Girish Jhunjhunwala, Fund Manager – PE & VC Investments, Bajaj Alternates
Financial services are one of the hardest categories to crack: regulated, risk-averse and ruthless to hype. LUMIQ has integrated AI into live workflows for the financial services industry and gained the trust of major institutions in the US, Southeast Asia and India. That’s how a leading AI for financial services company is built, and we’re proud to continue supporting the team as they scale globally.
Kitty Agarwal, Partner, Info Edge Ventures
LUMIQ’s goal is to lead in one category: production-scale automated decision making for financial services. Agents who act, don’t assist and never compromise audit, compliance or predictability.
About LUMIQ
LUMIQ is an AI-native financial services provider. Through the LiteCone platform and a growing workforce of production AI agents, LUMIQ transforms real roles in the financial services industry – insurer, credit insurer, claims assessor – into agents that are consistent, explainable, compliant and auditable. The company combines deep domain expertise in banking, insurance and capital markets with groundbreaking AI. LUMIQ employs more than 350 AI and data specialists and has offices in New Jersey, Singapore and Delhi NCR (India).
Web: http://www.lumiq.ai
Photo – https://web3wire.org/wp-content/uploads/2026/06/LUMIQ_Funding.jpg
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