Third time’s proving to be a charm for UK fintech platform CityFALCON. Having secured £566,488 in 2017 during its second Seedrs round, UK fintech CityFALCON quickly surpassed its initial £150,000 funding target during its third Seedrs’ run in November. The platform has increased the amount of equity offered on its campaign to 8.59% equity from its original 2.46% equity amount; at this writing, with the confidence of over 628 investors, CityFALCON is overfunding by 370%+, poised to soar beyond £559,500.
Pre-valued at £5,951,955 with awards from Twitter, Ontario, UBS and SB under its wings, CityFALCON is on the flightpath to redefine how financial news is sourced, curated, distributed, and consumed by rating the content utilizing its CityFalcon Score feature. The UK fintech startup aims to transform unstructured financial content into structured data using natural language processing (NLP) and plans to launch personalization of data for users and clients using machine learning. CityFALCON said that it also allows data consumption by voice and chatbot.
Helmed by CEO Ruzbeh Bacha, current B2B and B2B2C clients include BNP Paribas, Bloomberg, Raiffeisen Bank, IEX Stock Exchange as well as additional undisclosed fintech companies.
“In the first seven months of 2018-19, the company has generated £71K in revenue compared to £25K for the financial year 2017-18. The monthly revenue has grown from £7K in April 2018 to £15K in November 2018*. We have already signed deals for 2018-19 with a total revenue value of >£130K and have a total sales pipeline of >£500K,” indicated CityFALCON on its Seedrs’ campaign. “We will launch our ‘premium’ Spotify-like subscription for prosumers in 2019 which will provide non-public and paywalled content for a fixed monthly fee. Our premium content partners include Twitter and Bloomberg, and we are in discussions with several others.”
Seedrs’ funds will reportedly be used by CityFALCON to hire senior management, expand NLP capabilities (i.e. hire data scientists, developers, native speakers), onboard premium non-public content, enhance cloud infrastructure for low latency delivery globally and market its premium subscription.
For more detailed campaign information and updates, click here.
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