Duco acquires intelligent document processing start-up Metamaze

Data automation firm Duco has acquired intelligent document processing (IDP) start-up Metamaze for an undisclosed sum.
Metamaze, based in Antwerp, Belgium, operates an AI-powered no-code Software-as-a-Service (SaaS) platform for mining text from various document types, with a focus on serving the banking and insurance industries.
Duco, headquartered in London and acquired by Nordic Capital in 2021, aims to combine Metamaze’s platform with its own cloud-based SaaS tools to create an AI-powered platform for automating the processing of both structured and unstructured data throughout its lifecycle.
The goal is to provide better corporate insight, improve decision-making, and eliminate the need for manual data extraction.
Niels Van Weereld, CEO of Metamaze, emphasizes embedding their tech into a complementary data automation suite and scaling globally.
Michael Chin, Duco’s new CEO, believes the acquisition fundamentally changes how firms deploy AI by enabling customers to bring together all unstructured and structured data in a single platform.
The combined platform aims to address challenges in areas like post-trade operations in financial services by automating manual data entry, validation, and reconciliation.