AI web app butterwire has successfully secured its initial £200,000 funding target from nearly 100 investors through its equity crowdfunding campaign on Crowdcube.
According to butterwire, the app was launched in June 2018 and is described as professional research and portfolio analyst platform that may be used by al active equity investors that are aiming to generate higher returns, with faster stock selection, lower portfolio risk, higher investment horizons, and less trading. The company reported:
“We’re addressing a large global market of investors (> 1 million in the UK) who crave a truly empowering, financially rewarding, intuitive, no-nonsense, low cost investment innovation — not an app that encourages blind speculation by either dumbing things down or snowing you under useless data.”
butterwire also revealed the app assists active investors with their top 3 challenges:
- Find opportunities: Stocks that offer high upside potential for the risk taken
- Minimize risk: Prevent large synchronised losses thanks to risk diversification and mitigation
- Keep aware: Of when to reduce exposure to a holding or the market as a whole
Butterwire then added:
“Our brand of AI is different: you are in control, the machine’s role is to distil insights, to take on the heavy data lifting, to nudge (not prescribe), to arouse key questions (not chew out answers), so you are in the best position to make the important calls, win big when proven right and avoid losing big when proven wrong.”
Funds from the Crowdcube round will be used to continue growth and development of the web app. It is set to close later this month.
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