Frankfurt/Munich-based Bavest, a B2B fintech startup, has successfully raised €1.1M in pre-seed funding, marking a significant step in its mission to revolutionize the financial sector. The funding round attracted notable investors, including Bitpanda’s Christian Trummer, ReZoom Capital, Nautic Ventures, Jens Rehwinkel, Dieter Staib, and senior figures from leading consultancies and the fintech industry.
These investors are not only providing capital but also strategic guidance and product development support. Ramtin Babaei, co-founder and CEO of Bavest, expressed enthusiasm about the investor confidence in Bavest’s innovative approach, stating, “It confirms that experienced people are convinced of our innovative concept and motivates us to continue with full power.”
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Innovating for Transparency and Efficiency
Founded in 2019 by Pedram Babaei, William Todt, and Ramtin Babaei, Bavest initially operated as a B2C fintech before pivoting to a B2B model at the end of 2022. The company aims to enhance transparency and efficiency in the financial world through its innovative infrastructure. This infrastructure grants access to a wide array of financial and alternative data, including sentiment, ESG (Environmental, Social, and Governance), and climate data.
The company’s AI-as-a-Service offering empowers asset managers to utilize AI for comprehensive portfolio risk assessment and precise climate impact quantification. The Bavest API is central to this service, delivering real-time quotes, financial, and alternative data such as sentiment, ESG, and climate data.
Expanding Technology and Tailoring Solutions
The newly acquired funds will enable the fintech to further solidify its position as a leading provider of AI-driven financial infrastructure for businesses. The company plans to expand its technology platform and team while continuing to develop solutions tailored to individual customer needs.
Pedram Babaei, founder of Bavest, highlighted the funding’s role in accelerating product development and sales activities, aiming to strengthen Bavest’s leadership in providing essential financial infrastructure for businesses.
With over 1.2 million end customers, managing €1B in assets and providing daily portfolio analysis for 350,000 clients, the german company is poised to make a significant impact on the financial industry by facilitating access to crucial data and infrastructure.
