Kodesage raises $6.6M to drag enterprise legacy software into the AI era, without it leaving the building
The London and Budapest startup runs its modernisation AI entirely on-premise, aimed at the banks and insurers whose core systems still run on COBOL and Oracle Forms.
The most important software in a bank is often the software nobody fully understands any more. It runs the core processes, it has run them for decades, and the engineers who wrote it have retired. Changing it is slow, expensive and risky, which is why so much of it never changes at all. Kodesage wants to fix that, and on Thursday it raised $6.6M to try.
The seed round is led by VentureFriends, with pre-seed lead Portfolion returning and a notably eclectic group of angels alongside them: Christian Szegedy, a co-founder of Elon Musk’s xAI, and Mario Götze, the footballer who scored the goal that won Germany the 2014 World Cup. It follows a roughly €2.3M pre-seed the company raised in early 2025.
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