Monzo co-founder launches AI startup with ambitions to place software program builders out of enterprise

Image of Monzo bank card / Monzo founder's new startup, Nustrom, has ambitions to put software engineers out of business by leveraging AI for low/no code web development

Monzo co-founder Jonas Templestein has commenced a brand new journey with a contemporary startup searching for to place software program builders out of enterprise.

With fundraising efforts underway and drawing help from OpenAI and Index Ventures amongst others, Nustom desires to take full benefit of synthetic intelligence (AI), in return for low or no-code internet improvement. The corporate has launched its web site, is recruiting and has set out its imaginative and prescient, stating inside the subsequent decade “the vast majority of software program can be made by individuals with no technical background, collaborating with an AI.”

It’s presenting an end-to-end SaaS providing for “those that need software program made, however don’t have expertise constructing or operating it.”

The brand new course for Templestein, comes at a time when Monzo is prospering. He’s joined by co-founder Oliver Beattie, previously Monzo’s VP of structure.

Based in 2015, the digital financial institution now boasts greater than 9 million clients and has reached a stage the place it’s worthwhile.

The corporate is claimed to be on the cusp of promoting a further stake to one in every of Singapore’s sovereign wealth funds, on the again of securing a £four billion valuation final month. The highest-up to the current funding spherical is anticipated to herald a further $50 million from the Singaporean entity, in alternate for the problem of recent shares.

Does this imply Nustom received’t be working with software program builders?

Not fairly, not but anyway.

Regardless of the lofty ambitions of the startup, the corporate will “have human engineers assure the standard of the software program till our AI brokers are dependable sufficient to do it with out help.”

Maria Campbell has change into the third government at Nustom, taking on the place of COO. She joins her former colleagues and Monzo alumni, having additionally labored at GoCardless and banking-as-a-service fintech Griffin.

The founding crew at Nustom is accomplished with two engineers.

Fred Jonsson is one other with a background at Monzo, while Eugenio Marchiori is the one particular person to not have such a hyperlink. He’s a PhD pc scientist with over ten years of expertise at Google.

Picture credit score: Monzo

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