Bavest, a Frankfurt/Munich-based B2B fintech company, has announced that it secured €1.1M in a pre-seed round of funding.
The latest round includes notable backers such as Bitpanda’s Christian Trummer, ReZoom Capital, Nautic Ventures, Jens Rehwinkel, Dieter Staib, and senior figures from leading consultancies and the fintech sector.
They support the founders with strategic guidance as well as in product development.
Ramtin Babaei, co-founder and CEO of Bavest, says, “We are proud to have experienced investors from the fintech and asset management sectors on board. It confirms that experienced people are convinced of our innovative concept and motivates us to continue with full power.”
Rethinking financial infrastructure
Bavest’s mission is to transform the financial world by enhancing transparency and efficiency through innovative infrastructure, providing access to essential information and analyses previously unattainable.
The company was founded in 2019 by Pedram Babaei, William Todt and Ramtin Babaei. Bavest was originally operating as a B2C fintech and underwent a pivot to B2B at the end of 2022.
The company’s infrastructure provides access to diverse financial and alternative data, including sentiment data, as well as ESG (Environmental, Social, and Governance) and climate data.
Additionally, Bavest offers AI-as-a-Service, empowering asset managers to use AI for portfolio risk assessment and precise climate impact quantification. The Bavest API, which companies rely on, is central to this.
The API delivers real-time quotes, financial, and alternative data such as sentiment, ESG & climate data.
Founder and CTO, Todt says, “Our technology is not just a tool, but rather a door opener to new dimensions in the investment process. They make previously undiscovered data landscapes accessible and enable our customers to make intelligent decisions that were previously out of reach.”
According to the company’s website, Bavest facilitates access to essential data and infrastructure for over 1.2 million end customers, managing €1B in assets while providing daily portfolio analysis for 350,000 clients.
Capital utilisation
Bavest claims that the funds will help the company further solidify its position as a “leading provider” of AI-driven financial infrastructure for enterprises. The company will expand its technology platform and team while continuing to tailor solutions for individual customer needs.
Founder Pedram Babaei, says, “This round of financing will enable us to accelerate our product development, expand our sales activities and further strengthen our position as a leading provider of financial infrastructure for businesses.
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