Pastel

What Pastel does

Pastel operates an Agentic AI platform called Sigma that deploys specialized AI agents across regulated banking workflows, including customer onboarding and due diligence, fraud detection, anti-money laundering operations, sanctions and adverse media screening, and executive-level strategic intelligence. Each agent is designed to be tuned to a bank's policies, integrate with the institution's existing systems without a rip-and-replace migration, document every action for audit and regulatory exam purposes, and operate under human-in-the-loop controls. The company targets community banks, mid-tier and super-regional banks, credit unions, and internal teams in risk, compliance, operations, and the executive suite, with case-study customers including Credit Direct Finance Limited, Oxygen X Finance Company Limited, Zest Payments Limited, and Transactworld Digital Services. Pastel distributes the platform via direct enterprise sales through 'Book a Demo' and 'Talk to our Team' engagements, suggesting consultative, quote-based contracts on a subscription basis, though specific pricing tiers are not publicly disclosed.

The company was originally founded around 2021 as a Nigerian digital bookkeeping startup serving small businesses, raised a $620,000 pre-seed in August 2021 and a $5.5 million seed round in August 2022 led by TLcom Capital Partners (with DFS Lab, Everywhere Ventures, Global Founders Capital, Golden Palm Investments, Plug and Play, Soma Capital, and Ulu Ventures participating), and subsequently pivoted to its current banking AI focus by 2024-2025. Corporate registration is now reflected at a New York address (169 Madison Ave STE 15313) with North America as a served market, while team size remains in the 11-50 range. There is no public evidence of a Series A, additional funding rounds, acquisitions, regulatory certifications, named senior AI hires, or proprietary model development beyond the Sigma product itself.

Name

Pastel

Legal name

Pastel

Website

https://pastel.africa

Company type

Private

Founded year

2022

Operating status

Operating

Headcount range

11–50 employees

Short description

Pastel is an Agentic AI platform serving regulated banks and credit unions with specialized AI agents for onboarding, customer due diligence, fraud, AML, screening, and executive intelligence workflows, distributed via enterprise subscriptions.

Ownership category

akta.pro rank

Product category

Banking AI Software

NAICS

Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320)

SIC

Services-Prepackaged Software (7372)

akta.pro primary industry

Bot Management & Credential Stuffing Protection (FSAMALAG)

Keywords

• Banking AI platform
• Compliance automation
• Fraud detection software
• Customer due diligence
• AML monitoring tools

Headquarters

HQ city

Yaba

HQ country

Nigeria

HQ region

Africa

Offices1 record

Markets served

GTM type

B2B

Offering type

Software

Cost components

Personnel, Technology or R&D, Marketing or Sales, Operations, Infrastructure

Revenue model

1. AI Agent Platform Subscription: Pastel offers its AI agent platform to regulated banks on a subscription basis. The platform deploys specialized agents across customer due diligence, fraud, AML, screening, and executive insight workflows. Value delivery is measured through hours saved and workflow automation rather than just improved analytics.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels3 records

Core offering

Pastel sells Sigma, an agentic AI platform for regulated banks that deploys specialized AI agents across core banking workflows including customer onboarding, customer due diligence (CDD), fraud detection, anti-money laundering (AML), sanctions/PEP screening, and executive strategic intelligence. The platform integrates with existing core banking systems to automate compliance and operations tasks that were previously handled manually, and it is targeted at community banks, mid-tier banks, super-regional banks, and credit unions.

Product overview

Pastel is a banking AI platform built around its core product Sigma, which deploys specialized agentic AI across four key modules: Onboarding & CDD Agents, Fraud & AML Agents, and Strategic Intelligence Agents. The platform is designed for regulated banks (community banks, mid-tier, super-regional, credit unions) and serves risk, compliance, operations, and executive teams. Pastel integrates with existing banking systems to modernize high-stakes workflows without requiring a rip-and-replace of core infrastructure.

Differentiator

Problem solved

Functional benefit

Products and services

• Sigma Sigma is an agentic AI platform for regulated banks that deploys specialized AI agents across onboarding, customer due diligence (CDD), fraud detection, anti-money laundering (AML), sanctions/PEP screening, and strategic executive intelligence. It integrates with existing core banking systems to automate compliance and operations workflows for community banks, mid-tier banks, super-regional banks, and credit unions.

Quantifiable outcome

• Multi-day onboarding projects reduced through automated workflows
• +2 more outcomes

Named customers4 records

Segments6 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability6 records

Feature4 records

Scale indicators1 record

Recent moves5 records

Expansion highlights5 records

Direct peers

• Alloy: Identity decisioning platform (KYC/AML/ fraud) for banks and fintechs. Comparable to Pastel's Onboarding & CDD Agents in automating customer due diligence.
• ComplyAdvantage: AI-driven AML, KYC and sanctions screening platform serving banks and financial institutions. Directly overlaps with Pastel's Screening Agents and Fraud/AML Agents on regulatory compliance workflows.
• Silent Eight: AI-based AML and sanctions screening solution used by global banks. Competes head-on with Pastel's agentic approach to compliance alert handling and case management.
• Featurespace: Behavioral analytics for fraud and AML, deployed at major banks. Competes with Pastel's Fraud & AML Agents in anomaly detection and false-positive reduction.
• Unit21: AI-powered fraud, AML, and compliance operations platform. Highly comparable to Pastel as a workflow-and-agents layer for compliance teams at banks and fintechs.
• ThetaRay: AI-driven AML and transaction monitoring for cross-border payments and correspondent banking. Overlaps with Pastel's transaction monitoring and screening agents.
• Persona: Identity verification and KYC/CDD platform used by financial institutions and fintechs. Directly comparable to Pastel's Onboarding & CDD Agents.
• Quantexa: Entity resolution and decision intelligence platform for AML, KYC and fraud. Highly comparable AI platform serving risk and compliance teams at banks.

Broad incumbents

• NICE Actimize: Incumbent enterprise financial crime, AML, and fraud platform sold to global tier-1 banks. Represents the legacy vendor estate Pastel is positioning to displace or augment.

Emerging players

• Hummingbird RegTech: AI-powered regulatory intelligence and compliance management platform for banks and fintechs. Overlaps with Pastel's regulatory workflow and screening agents.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

• Xx.com/pastelafrica
• Facebookfacebook.com/OfficalPastelAfrica

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds2 records

Investors8 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Pastel