Monzo co-founder launches AI startup with ambitions to put software developers out of business

Monzo co-founder Jonas Templestein has commenced a brand new journey with a recent startup in search of 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 artificial intelligence (AI), in return for low or no-code net improvement. The corporate has launched its website, is recruiting and has set out its imaginative and prescient, stating inside the subsequent decade “the vast majority of software program might be made by folks 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 path for Templestein, comes at a time when Monzo is thriving. 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 prospects and has reached a stage the place it’s worthwhile.

The corporate is alleged to be on the cusp of promoting an extra stake to considered one of Singapore’s sovereign wealth funds, on the again of securing a £4 billion valuation final month. The highest-up to the current funding spherical is anticipated to usher in an extra $50 million from the Singaporean entity, in alternate for the difficulty of latest 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 turn into the third govt at Nustom, taking over 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 workforce 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