Mobileye Founder’s AI Fintech One Zero Seeks $100M in New Funding, According to Sources

Amnon Shashua, the visionary founder and CEO of Mobileye, has embarked on yet another groundbreaking venture, this time in the fintech space with One Zero, a startup poised to revolutionize retail banking through the use of advanced AI technologies. Known for his success in self-driving technology and AI at Mobileye, Shashua is applying his expertise to tackle the complexity of modern banking. One Zero, which is currently in the process of raising at least $100 million, has already attracted significant investor interest, having raised $242 million to date and being valued at $320 million in 2023. This valuation is expected to surge higher in its next funding round, underscoring the growing belief in the company's potential to disrupt traditional banking.

Despite being co-founded by Shashua, one of Israel’s most prominent tech figures, One Zero has flown under the radar outside of its home market. Yet, the startup has the backing of some major players in the investment world, including Tencent, OurCrowd, and SBI Ventures. Its mission is nothing short of transformative: to democratize high-end banking services by providing advisory-type assistance to everyday customers. Typically, such personalized financial services are only accessible to high-net-worth individuals, but One Zero aims to bring this level of service to the masses at a time when physical bank branches are declining, and human interaction in banking is becoming increasingly rare.

One Zero’s dual focus gives it a distinct advantage. In Israel, the startup operates as a full-stack retail bank, having acquired a banking license. This allows it to function as a real-world financial institution, serving approximately 110,000 customers. This retail banking operation not only provides direct revenue but also serves as a testing ground for the company's AI-driven banking technologies. The insights and data gleaned from this "sandbox" environment are instrumental in refining the AI models that One Zero plans to license to other banks around the world. While the company has yet to announce specific licensing deals, Shashua noted that major banks have shown interest in adopting its technology, a testament to the startup’s growing influence.

At the heart of One Zero’s technological offering is Ella, a next-generation AI-powered chatbot designed to go far beyond the limited capabilities of current banking chatbots. Unlike the simple Q&A bots many banks use today, which can only handle basic inquiries like account balances or recent transactions, Ella is built to handle far more complex financial planning and advisory tasks. For example, Ella can help customers calculate future savings based on their current spending habits, or recommend the best financing options for major purchases like buying a car—tasks that even many human bankers find challenging. This AI aims to replicate the experience of working with a high-level financial advisor, giving ordinary customers the tools and insights needed to manage their finances more effectively.

One Zero's approach to AI  is both ambitious and meticulous. Instead of relying on a single large language model (LLM), the company uses multiple LLMs, each optimized for different tasks. This multi-model strategy allows the AI to generate diverse answers, which are then passed through a verification system to ensure accuracy. If the system determines that it cannot confidently answer a question, it will refrain from giving a response, rather than offering incorrect or misleading information. As Shashua puts it, “It’s okay for the AI to say, ‘I cannot solve your problem,’ or ‘I don’t know the answer,’ just like a human banker might. What’s not okay is for the AI to offer an incorrect answer.” This emphasis on accuracy and transparency is critical in building trust with users, particularly when it comes to their finances.

Currently, One Zero's AI capabilities are focused on basic functions such as spending management, but the company has plans to expand its offerings over time. The ultimate goal is for Ella to become a comprehensive financial assistant that can advise customers on everything from daily budgeting to long-term investment strategies. With AI advancements like these, One Zero is positioning itself as a leader in the burgeoning field of AI-driven retail banking.

Shashua sees huge untapped potential in applying AI to financial services, especially in a sector that has been slow to adopt cutting-edge technology in meaningful ways. While many banks have experimented with AI, the implementations have been largely limited to superficial functions like spending tracking or automated notifications. One Zero, by contrast, envisions a future where AI can fully replace many of the functions traditionally handled by personal bankers, offering the same high level of service to all customers, regardless of their wealth.

In a financial landscape where the average person is increasingly reliant on impersonal digital interfaces, Shashua believes One Zero’s AI technology can bridge the gap by providing personalized, high-quality service at scale. And the company’s ambitions don’t stop there—Shashua hinted at plans to develop additional AI-powered robots for use in sectors beyond banking. With Shashua at the helm, One Zero is not just aiming to change banking but to push the boundaries of what AI can achieve across industries.

As One Zero prepares to scale and expand into new markets, it’s clear that Shashua’s vision is reshaping the future of financial services. By combining AI with a deep understanding of human needs, One Zero stands out in a crowded fintech market, offering a glimpse of what banking could look like in an AI-powered world.