US-based, Turkish-founded fintech startup Provenance has raised $500,000 in funding from venture capital firm 212, as it looks to expand its AI-powered financial model verification technology across the Middle East, the Americas and Asia.
Founded in 2026 by Turkish entrepreneurs Tuna Üsküdar and Arda Dinç, alongside Chris Risio, Provenance is building AI-powered verification and control infrastructure for investment banks, private equity firms and corporate finance teams.
The platform addresses a growing challenge within financial workflows: while artificial intelligence is becoming increasingly embedded in financial modelling and analysis, the systems used to verify, audit and trace those outputs have not evolved at the same pace.
Provenance compares information contained in financial models and presentations with underlying source documents, helping teams identify errors, inconsistencies and potential data issues. Its technology also tracks changes made across widely used financial tools, including Excel and PowerPoint.
By making it possible to see where data in a financial model originated and how it has changed over time, Provenance aims to introduce an additional layer of trust and traceability into financial analysis. The platform also provides digital review and approval mechanisms designed to reduce the time finance professionals spend manually checking and validating models.
The company ultimately wants to become part of the control infrastructure surrounding AI-generated and AI-modified financial work, providing financial institutions with tools for verification, governance and auditability.
Provenance said it will use the fresh capital to further develop its product and accelerate its growth across the Middle East, the Americas and Asia.
Özge Sevim, Investment Director at 212, said Provenance is addressing a fundamental challenge around reliability and traceability in financial models, adding that the early customer interest the company has generated provides an encouraging indication of market demand.
The investment also highlights the growing international footprint of Turkish-founded technology companies, with Provenance building from the US while maintaining strong links to Türkiye’s startup ecosystem. The company was recently selected as one of nine startups joining the eighth cohort of the QNBEYOND Accelerator Program.
As financial institutions rapidly experiment with generative AI across research, modelling and decision-making, technologies focused on verification and governance are becoming an increasingly important part of the financial AI stack. Provenance is positioning itself within that emerging layer, betting that as AI produces more financial analysis, demand will grow for infrastructure capable of proving where the numbers came from — and whether they can be trusted.
Source: Webrazzi
