24 October 2017
Find out more

Capital markets AI startup Almax Analytics closes seed funding round

25 April 2016  |  4047 views  |  0 Source: Almax Analytics

Almax Analytics, Artificial Intelligence for News Insights in Capital Markets, announced today financing of the initial growth and development for its technology (the seed round) has been closed in London.

Investors include executives from MCSI Inc., Aviva plc, a founding member of RiskMetrics Group Inc., the Fintech SEIS Fund and Jonas Dromberg, a Finnish technology investor and former Bloomberg Bureau Chief. Almax Analytics introduced the company in January 2016 as one of KPMG Luxembourg’s Innovative Companies at the European Alternative Investment Funds conference. Since this date, Almax has achieved global notice and is currently in testing with New York and Chicago based market maker, SUMO Capital. Results of this first-to-market service for analysing news are expected by July, with Series A financing plans already in process.

The Almax Analytics team is an international group of experts represented by Balazs Klemm, Chief Executive, Co-Founder Dr Peter Sarlin, Research Director and Founding Member, Karen Bertoli who is leading Strategy and Marketing. Development and engineering are based in Finland with Business Operations and Company Headquarters in London, UK.

"With soaring network and processor speeds, the processing power of the Internet is becoming powerful enough to help trading technology expand from a pure quant realm to a more qualitative space, such as news,“ says Jonas Dromberg, Investor. “Predicting stock movements automatically from news flow helps free investments from unproductive arbitrage trading to more common-good investments.”

“We are pleased to have gathered this calibre of first round investors and thankful for all of the support from our partners in Luxembourg and the UK,“ says Balazs Klemm, Chief Executive and Founder of Almax Analytics. “In a short amount of time since first announcing we have listened and learned from Hedge Funds, Investment Banks, Exchanges and Vendors on the demand for this complex technology which powers high precision news analysis.“

“Almax Analytics technology responds to one of the greatest challenges facing capital market practitioners; feasibility for humans to read and absorb the sheer quantity of news available,” says Co-Founder Dr Peter Sarlin. “For this reason, many important events and relationships are going undiscovered.”

"KPMG Luxembourg welcomed Almax Analytics to our group of leading innovative companies this year and we are impressed at the rapid progress Balazs Klemm and his team have made,” says Alexandre Rochegude, Partner, KPMG Luxembourg Hub for Entrepreneurship (the Khube). “The team is addressing a critical need and has developed an impressive first time technology for real-time decision making in the capital markets.” 

Comments: (0)

Comment on this story (membership required)

Related blogs

Create a blog about this story (membership required)
visit www.innotribe.comvisit www.vasco.comvisit www.niceactimize.com

Top topics

Most viewed Most shared
Mastercard to roll out blockchain APIMastercard to roll out blockchain API
20781 views comments | 31 tweets | 44 linkedin
HSBC partners Bud for open banking trialHSBC partners Bud for open banking trial
15638 views comments | 24 tweets | 33 linkedin
Sibos 2017: API or the highwaySibos 2017: API or the highway
11232 views comments | 12 tweets | 23 linkedin

Featured job

to £70K base, £105K ote, benefits
London, UK

Find your next job