London-based fintech startup CityFALCON has successfully secured more than £265,000 from nearly 200 investors through its second equity crowdfunding campaign on Seedrs. The company launched the initiative last month and sought to raise £150,000.
CityFALCON has received awards from Twitter, Ontario, UBS, SB. The company stated it on a mission to redefine how financial news is sourced, curated, distributed, and consumed by rating the content using its CityFalcon Score feature. The company stated:
“CityFALCON provides personalised financial news by leveraging artificial intelligence, push notifications, and voice technologies. We do NOT create content but focus on user and business experiences using existing content and emerging technologies. Our clients include BNP Paribas, FinTech companies, and retail traders and investors. We have been accelerated by Microsoft and £6bn under management Octopus Investments. We are already revenue generating and are expected to be cash flow positive in the next 18 months.”
CityFALCON helps retail investors by doing the following:
- Democratizing access to financial news and data.
- Helping average people who are looking to start investing into stock markets with content, events, and solutions.
The company stated:
“We believe that the traditional financial news feeds and systems are expensive, based on slower technologies, have a steep learning curve, rely on manual curation in contact centres, and cover limited social media activity. Moreover, we find that there is a lot of focus on short term algo trading, and there are a plethora of research companies providing long-term reports, but not many solutions are suited for long term investors. E.g. to our knowledge none of the services can today give you top stories for your portfolio over the last day, week or month.”
It was also revealed that CityFalcon’s web platform, Android and iOS apps, and API for businesses are already and the company stated it is expecting to launch its voice services on Amazon Echo, Google Home, and Microsoft Cortana by this month.
Funds from the latest funding round on Seedrs will go towards expansion. It is set to close later this summer.
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