Vesta Insights, an artificial intelligence (AI) business, aims to raise €5 million in its seed round. The funding round is expected to be completed later this year.

The business has developed a platform using AI and machine learning to provide more accurate credit assessments.

Vesta Insights was founded by Veronica Breene in 2023 and is headquartered in Ennis, Co Clare. The business has eight staff and has raised €300,000 to date.

Vesta was born out of Breene’s PhD research where she was training the AI on data from Freddie Mac, a large housing authority in the US. From there she was able to develop a model and the efficacy of Breene’s model led to interest from investors early but she opted to be patient and start the business last May.

Vesta Insights has received support from Gina Raimondo, the US secretary of commerce, who has selected the business as one of 40 to help in developing AI projects in finance.