QuantCube Technology, an AI-based predictive analytics platform, has received a strategic minority investment from Moody’s Corporation.
This transaction was funded through offshore cash. While the deal value was not disclosed, Finextra reports it was around $5m and was made alongside a contribution from Five Capital.
France-based QuantCube provides corporate clients, financial institutions and investment managers with real-time, AI-powered predictive analytics. Its technology offers macroeconomic analysis, investment analysis, and real-time analytics, and data visualisation.
The company collates unstructured economic and financial data sources from over 40 countries, and can be used in finance, insurance, retail banking, energy, macroeconomics, geopolitics and smart city sectors, among others. Its AI investments service helps investors to increase portfolio diversification, and identify global opportunities.
Moody’s delivers credit ratings, research tools and analysis to global capital markets, to help create a transparent and integrated financial market. The company’s investor services launched its analytics and technology solution last year, which is compiled of tools and quantitative models for the rating process and investing.
Moody’s president Rob Fauber said, “As the pace of technology innovation continues to accelerate, QuantCube has distinguished itself by offering powerful analytics using artificial intelligence and algorithmic processing to handle a wide variety of data.
“QuantCube’s capabilities align well with Moody’s objective of continuously enhancing the quality and timeliness of the information that informs our credit research and analysis, and we are pleased to be a part of their continued development.”
Investments into France’s FinTech space was relatively evenly distributed across the different verticals, according to data by FinTech Global. The biggest area for funding in the country last year was institutional investments and trading, bagging 22 per cent of the total $326.6m invested in the country.