Bavest, an innovative B2B German fintech, announced that it has completed a successful financing round of €1.1 million. The round was led by a group of renowned investors and will help Bavest accelerate its growth and further solidify its position as a leading provider of AI-based financial infrastructure for businesses.
The latest funding round underscores investors’ confidence in the company’s vision and potential to revolutionize the way companies manage their finances and analyze data. Bavest was able to convince Christian Trummer, founder and chief scientist of Bitpanda, but also ReZoom Capital as a strategic investor, Nautic Ventures as well as Jens Rehwinkel and Dieter Staib. Additional investors include managing senior directors and partners in renowned management consultancies in the financial services sector or come from the banking and fintech sector. They support the founders not only with strategic issues, but also with ongoing product development.
Bavest was founded by Pedram Babaei, William Todt and Ramtin Babaei in 2019. Initially launched as a B2C fintech, the successful B2B Pivot took place at the end of 2022. Bavest’s infrastructure provides access to financial data, alternative data such as sentiment data or ESG and climate data. Bavest also provides AI-as-a-Service, which enables asset managers to use AI to check portfolios for risks and precisely quantify the impact on the climate. The Bavest API, which companies rely on, is central to this.
“We are proud to have experienced investors from the fintech and asset management sectors on board. It confirms that experienced people are convinced of our innovative concept and motivates us to continue with full power,” explained Ramtin Babaei about the fintech company’s latest financing round.
“This round of financing will enable us to accelerate our product development, expand our sales activities and further strengthen our position as a leading provider of financial infrastructure for businesses,” said Founder and CFO Pedram Babaei.
“Our technology is not just a tool, but rather a door opener to new dimensions in the investment process. They make previously undiscovered data landscapes accessible and enable our customers to make intelligent decisions that were previously out of reach,” explains William Todt, founder and CTO at Bavest.
Bavest plans to use the funds from the financing round to scale its technology platform and expand its team to meet increasing demand for its services. The company will continue to work closely with its customers to develop tailored solutions that meet their individual needs.
Read the orginal article: https://www.eu-startups.com/2024/03/frankfurt-based-fintech-bavest-raises-e1-1-million-pre-seed-to-provide-access-to-real-time-financial-and-alternative-data/
