Bavest, a Frankfurt/Munich-based business-to-business fintech firm, has announced raising €1.1 million (about $1.2 million) in a pre-seed funding round, signaling strong market confidence in its innovative financial infrastructure solutions.
The investment round draws support from a notable group of backers, including Bitpanda co-founder Christian Trummer, ReZoom Capital, Nautic Ventures, Jens Rehwinkel, Dieter Staib, along with senior figures from leading consultancies and the fintech sector.
These investors are not only providing capital but are also offering strategic guidance and product development expertise to Bavest’s founding team, according to the announcement.
Co-founder and CEO Ramtin Babaei expressed pride in attracting experienced investors from the fintech and asset management sectors, seeing it as a validation of Bavest’s innovative approach and a motivational boost for the team.
Founded in 2019 by Pedram Babaei, William Todt, and Ramtin Babaei, Bavest initially launched as a B2C fintech company before pivoting to a B2B model at the end of 2022.
Bavest’s mission is centered around transforming the financial landscape by enhancing transparency and efficiency. The company offers cutting-edge infrastructure that grants access to a wide array of financial and alternative data, including sentiment analysis, as well as environmental, social, and governance (ESG) and climate data.
This infrastructure is crucial for asset managers, enabling them to utilize AI for portfolio risk assessments and precise climate impact quantifications through Bavest’s AI-as-a-Service offering.
Central to Bavest’s offerings is its API, which delivers real-time quotes, financial data, and alternative data. According to the company’s co-founder and CTO, William Todt, this technology is pivotal in unlocking new dimensions in the investment process, providing access to previously undiscovered data landscapes and facilitating intelligent decision-making for customers.
Bavest’s infrastructure currently supports over 1.2 million end customers, manages €1 billion in assets, and provides daily portfolio analysis for 350,000 clients.
With the fresh capital infusion, Bavest aims to cement its status as a leading provider of AI-driven financial infrastructure for businesses. The fresh funds will be directed towards expanding the company’s technology platform and team, as well as customizing solutions to meet individual customer needs.
Pedram Babaei, a founder, highlighted that the financing round would accelerate product development, expand sales activities, and strengthen Bavest’s position in the market as a premier provider of business financial infrastructure.
