Jordan-based artificial intelligence company Whyise has raised a total of $675,000 in its seed round. Ahli Fintech, the financial technology and innovation accelerator of the Jordan Ahli Bank invested $200,000 in Whyise, an amount matched by the Innovative Startups and SMEs Fund (ISSF). Other participating investors included Wamda, Beyond Capital and angel investors Najla Baeshen and AbdulMajeed Shoman.

Co-founded by Reem Khouri and Ayad Taher in 2018, Whyise provides data analysis and insights to enable organisations make “impactful decision making”. The company’s impact-analytics software was developed in Amman and aggregates and analyses an organisation’s data in real time to provide insights on financial, economic, social and environmental return on investment.

“Whyise, brings the power of AI and machine learning at the disposal of organisations interested in measuring their impact on stakeholders and analysing their data for evidence-based decision making. That, along with the amazing team, made the decision to invest in Whyise and accelerate its growth one that is aligned with our investment thesis, where we are focused on establishing Jordan as a regional hub for globally relevant fintech innovations.” said Rami Al Karmi, chief executive officer at Ahli Fintech.

As the ISSF is driven by impact, a co-investment in Whyise as a match to the Ahli Fintech investment, was only natural according to Laith Al-Qassem, the chief executive officer at ISSF.

“We at ISSF believe in adopting a data driven approach to promote and strengthen Jordan’s entrepreneurship ecosystem. Whyise is a solution that is very relevant to the future of our economy and the global economy, post Covid-19, where sustainability is at its epicentre. When we build sustainable businesses, we are building resilient economies,” he said.