CityFALCON, which stylises itself as the Spotify for financial content, has closed a crowdfunding campaign 823% above its initial target.
The company raised the funds through the Seedrs platform, attracting support from 1,273 investors. It raised a total of £1.6m at a pre-money valuation of £10.4m – initially it targeted £200,000.
A total of 13.65% of CityFALCON’s equity was given to investors.
CityFALCON leverages machine learning, automation and natural language processing to bring structure to unstructured financial content. It builds analytics, extract insights, and delivers personalised data to users and clients through web, mobile, API, voice and chatbot platforms.
Its platform processes millions of stories in real-time in 50+ languages from 13,000 publications, with paywall-free and non-public content from 1000+ publications, including Economist, Washington Post, Xinhua News, Yonhap News, and more.
With the capital, the company hopes to bolster its technology and team, as well as bolster its marketing and advertising efforts.
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