Just a little over a year after securing £566,488 through its second Seedrs round, UK fintech CityFALCON has returned to the equity crowdfunding platform for the third time and already raised its initial £150,000 funding target.
As previously reported, 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.”
The company also revealed it will soon launch personalization of data for users and clients using machine learning. CityFALCON noted it also allows data consumption by voice and chatbot.
“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.”
Funds from the latest Seedrs round will be used for the following:
- Hire for senior management roles
- Expand NLP capabilities – hire data scientists, developers, native speakers
- Onboard premium non-public content
- Enhance cloud infrastructure for low latency delivery globally
- Market our premium subscription
The campaign is set to close later this winter.
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