UK FinTech TurinTech said to close £1m seed from IQ Capital

TurinTech, an AI-powered research solution, has reportedly raised £1m in a seed round from IQ Capital.

After the close of the round, the company will look to recruit more data scientists and enhance its optimization automation services, according to several reports in the media.

The FinTech company was created in the University College London (UCL) and uses AI and machine learning technology to optimize processes in various industries.

Its autonomous, adaptive and intelligent optimization technology can be used to improve various software such as financial trading strategies, embedded software, mobile applications, desktop software and machine learning models. To improve trading strategies, TurinTech offers free backtesting with historical data and free paper trading as well as automatic strategy optimization.

Last month, IQ Capital led the $5.5m Series A round of risk management service provider for financial institutions FNA. The London-based company uses a network of analytics, AI, and machine learning to help financial institutions map and monitor complex financial systems.

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