London fintech startup, CityFALCON, recently launched an equity crowdfunding campaign on Seedrs to raise £150,000 as it prepares for expansion of its personalized financial news feed. The company, which has received awards from Twitter, Ontario, UBS, SB, stated it is redefining how financial news is sourced, curated, distributed, and consumed by rating the content using its CityFalcon Score feature.
CityFalcon shared in order to rate the content, its proprietary algorithm considers a few factors, including the story’s content, rating of the author, performance on social media, and crowd curation. The company’s team also creates a different financial news feed for every person. Below is how the CityFalcon Score works.
The company explained that while its primary focus is supporting both investors and traders, it also 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.
CityFALCON also noted:
“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.”
Funds from the campaign will be used for expanding CityFALCON’s team (appoint senior management, developers, and data scientist(s); continue to build its product by adding enterprise features, mobile apps, and more financial assets; and increase marketing and sales efforts.
Since its launch, the campaign has successfully secured nearly £95,000. It is set to close later this fall.
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