Italy-based stock market analysis platform Finscience has reportedly closed a €1m seed round of funding.
The capital came from an undisclosed group of angel investors, according to an article by FinSMEs.
Finscience utilises big data and AI capabilities to create analysis of stock markets. The solution provides constant monitoring of the markets to establish in-depth analysis for both investors and listed companies. Data is collected from a range of sources including social media, blogs and web sites, to predict potential trends.
This funding will be used to aid the commercial launch of the platform and to grow its tech team, the article said. Proceeds are said to also help with the implementation of new services and machine learning algorithms.
Last month stock trading platform BUX closed a €10.6m Series C round from a group of investors which included Velocity Capital. The platform is used in eight European countries and already has 1.2 million users after just three years after launch.
Within Europe, Italy’s FinTech has not had a lot of activity. Last year the country only saw $17.4m invested, which was mainly due to one deal securing $17m.
Copyright © 2017 FinTech Global