Bavest, a pioneering B2B FinTech company based in Germany, has announced a significant milestone in its journey with the closure of a €1.1m pre-seed funding round.
The investment was led by an impressive consortium of investors, showcasing the industry’s confidence in Bavest’s innovative approach and potential for growth. Key investors include Christian Trummer, founder and chief scientist at Bitpanda, along with strategic investments from ReZoom Capital, Nautic Ventures, and other notable figures such as Jens Rehwinkel and Dieter Staib.
Founded in 2019 by Pedram Babaei, William Todt, and Ramtin Babaei, Bavest initially ventured into the market as a B2C entity. However, the company’s strategic pivot to a B2B model towards the end of 2022 has positioned it as a leading provider of AI-based financial infrastructure for businesses. Bavest’s platform offers unparalleled access to a wide range of financial data, including alternative data sets like sentiment, ESG, and climate data. Their unique AI-as-a-Service capability allows asset managers to leverage artificial intelligence for comprehensive portfolio risk assessments and climate impact quantifications, centralised through the Bavest API.
The recent funding will fuel Bavest’s ambitions to accelerate product development, expand sales activities, and consolidate its market position. Pedram Babaei, the company’s Founder and CFO, emphasized the significance of the funding in enabling these goals. “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.”
William Todt, Founder and CTO, further highlighted the transformative potential of Bavest’s technology. “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.”
Ramtin Babaei, expressing gratitude towards the investors, remarked, “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.”
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