AI firm FD Intelligence has welcomed a £200,000 funding boost from UKSE, a subsidiary of Tata Steel, as it embarks on strategic business growth to transform the financial services sector.

Based in Finnieston, Glasgow, and founded in 2021, FD Intelligence initially provided Robotic Process Automation consultancy services. Recognising a gap in the market, the company has since transitioned to developing its own cutting-edge automation software for the accountancy sector.

Its flagship product, PeTAR, is the world’s first personal tax automation robot. PeTAR automates the preparation of personal tax returns, significantly reducing manual work for accountancy firms while improving accuracy and efficiency. On average, it can reduce admin tasks that traditionally would take several hours down to mere minutes.

Already, PeTAR is being used by more than 20 of the UK’s Top 50 accountancy firms.

The funding from UKSE will allow FD Intelligence to pursue an ambitious strategy to enhance its product capabilities and expand its market reach. Currently employing 30 full-time team members across business, data and development roles, its anticipated growth is expected to create 16 new roles over the next two years.

Andrew Guy, founder and CEO of FD Intelligence, said: “As the financial services sector faces growing demands for more efficient, tech-driven solutions, our pioneering AI technology, PeTAR, is transforming tax preparation processes. In today’s fast-paced world, time is a precious commodity, and by adopting our technology, we’re giving teams the opportunity to reclaim valuable time that can be redirected towards other critical tasks, such as relationship-building and strategic planning.

“The funding support from UKSE not only boosts our confidence in continuing our product development but also positions us to build a sustainable, long-term business that will create new jobs in Glasgow and establish Scotland as a hub for AI innovation.”

Marc Davey, regional executive at UKSE, commented: “FD Intelligence is a standout company with a clear vision and an exceptional management team. Their commitment to innovation and their focus on a unique, under-served market segment makes them a uniquely placed business in Scotland that is at the forefront of the drive of AI and we’re exciting to see their growth with the backing of funding from UKSE.”

FD Intelligence’s expansion plans include further development of its AI technology, the creation of new products, and exploring international markets, including the United States.