Mogoplus Secures $1.5 million Funding for Expansion in AI-driven Lending and Open Data Industries
**AI Agent Market Poised for Significant Growth, with MOGOPLUS Leading the Way in Financial Services**
The global AI agent market is currently experiencing rapid growth and is set for significant expansion in the near future. According to various market research firms, the market is projected to grow from USD$7.84 billion in 2025 to anywhere between USD$50 billion and USD$220 billion by 2035, with a Compound Annual Growth Rate (CAGR) of 39% to 46%[1][2][4][5].
The market's expansion is being driven by widespread adoption across key sectors such as healthcare, retail, and finance. In healthcare, 42% of hospitals and clinics already use AI agents for disease diagnosis, with AI handling up to 95% of routine patient inquiries, allowing medical staff to focus on complex cases[2]. In finance, 80% of banks and financial institutions deploy AI agents for fraud detection, customer service, and investment insights, reducing fraud by 25% and improving customer satisfaction by 25%[2]. In retail and e-commerce, 63% of retailers use AI agents for personalized marketing, inventory management, and customer support, with AI agents soon expected to handle nearly all customer interactions[2].
The AI agent market's growth is also being fueled by the strategic value enterprises find in utilizing a digital workforce in process-heavy and manual workflows. AI agents are able to tailor interactions, shorten response times, and handle intricate regulatory processes, making them invaluable in sectors like finance.
One company at the forefront of this growth is MOGOPLUS, a provider of agentic AI solutions to the financial services sector, specializing in the lending and credit lifecycle. MOGOPLUS has recently secured funding to accelerate its growth, with the partnership between MOGOPLUS and New Model Venture Capital Group providing an ideal foundation for MOGOPLUS's growth into new markets. The funding will be used to expand MOGOPLUS's AI-based credit insights portfolio.
MOGOPLUS's expertise in unstructured financial data positions them well for the growing global AI agent market. Existing MOGOPLUS customers include two Tier 1 Australian banks, a large Middle Eastern bank, customer-owned mutuals, credit unions, digital lending platforms, and non-bank lenders. The funding will enable MOGOPLUS to increase its commercial reach to meet the growing market demand in the agentic AI space.
MOGOPLUS's CEO, Mike Page, commented on the raise, stating "We are thrilled to continue our long-term relationship with New Model as we begin this new chapter of growth." New Model's CEO, James King, is delighted to continue supporting MOGOPLUS as they scale their solutions into new markets, stating "MOGOPLUS is at the cutting edge of agentic AI, and we are excited to be a part of their journey as they expand into new markets and verticals."
With the increased funding, MOGOPLUS is also looking to expand into other emerging open data markets and verticals globally. Vendors who can create and deliver specialized intelligent agents will gain a competitive edge in the market, and MOGOPLUS is well-positioned to be one of these vendors.
In conclusion, the AI agent market is in a strong expansion phase, marked by deepening enterprise adoption and technological advances that allow autonomous systems to handle complex tasks. Healthcare, finance, and retail are leading sectors driving growth by enhancing efficiency, reducing costs, and improving customer and patient engagement. With expected market valuations soaring into the high tens or even hundreds of billions within the next decade, AI agents will play a transformative role across these industries globally.
References: [1] Tractica (2022). AI Agents Market Forecast. [2] MarketsandMarkets (2022). AI Agents Market Growth.
- ffnews.com could cover the recent funding secured by MOGOPLUS, a leader in the AI agent market, specifically focusing on their plans to expand into other emerging open data markets and verticals globally.
- In their technology-focused section, ffnews.com might also discuss the role of artificial-intelligence in the finance sector, highlighting how companies like MOGOPLUS are using AI agents to improve fraud detection, customer service, and investment insights, thereby reducing fraud by 25% and improving customer satisfaction by 25%.
