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Owlin, an Amsterdam-headquartered and Netherland-based accelerator Rockstart-backed real-time news alert startup has not been in the headlines for a while, but looks like its making waves again.
Raised €3.1M funding
In a recent development, Owlin has raised $3.5 million (nearly €3.1 million) in Series A funding round from Velocity Capital FinTech Ventures. This new funding will be used by the company to drive the future of risk management by providing real-time actionable data. It will let the Dutch data company accelerate its international growth, especially in the US and the UK.
Owlin: The Google Analytics of financial world
Basically, the Dutch startup has evolved from a real-time news analysis tool to a state-of-the-art AI-based text and news analytics platform. Now, Owlin continues to build upon an impressive list of international clients including Fitch Ratings, Adyen, Deutsche Bank, ING and KPMG.
Founded in 2012, two of its initial founders left in the early years when the company faced a rare hurdle – which was – their initial seed-investor went bankrupt, defaulting on their funding commitment. The remaining team bootstrapped their way to profitability, resolving to carefully select their next institutional investor. Owlin’s decision to partner with Velocity arose from a firm trust in the group’s proven investment track record as well as a shared vision in the ways in which the company can continue to grow well into the future.
Owlin’s natural language processing platform
Now, Owlin offers proprietary AI and Natural Language Processing algorithms to provide financial professionals with real-time monitoring of full company portfolios, indices, commodities, industry sectors, or specific themes. With a rapidly increasing client base of global Tier 1 Financial Institutions, Owlin is on a mission to shape a better-informed world.
Founded by Bas van Ooyen, Richard Kraaijenhagen and Sjoerd Leemhuis, Amsterdam-based Owlin has revolutionised big data and AI solutions for clients and end-users.
Sjoerd Leemhuis, CEO of Owlin commented, “We are delighted with this financial injection from Velocity. Owlin is gaining a lot of traction especially in the financial sector, and it has become clear that rather than merely solving an information problem, we help our clients make their risk models more data-driven, accurate, timely and useful.”
Slow data vs real-time analytics
Until now, most financial institutions have relied on ratings, annual reports and other ‘slow’ financial data to assess their risk appetite and grant loans, for example. Owlin enables its clients to monitor their risks continuously and in real-time.
This company lets clients monitor risk continuously in real-time. It adds news and unstructured data to the risk monitoring tools so that clients do not face heavy losses. So, apart from gaining insights, clients of Owlin save both their precious time and money.
“We add news and unstructured data to their risk monitoring to help minimise their losses. In the end, our clients don’t just gain insights, they also gain time and save money. Better understanding risk is practically mandated by regulations such as Basel III which require financial institutions to maintain better, more real-time risk management processes. By collaborating with Fitch, for example, we enable 15,000 counterparty risk managers worldwide to efficiently track risk events in real time that are otherwise not captured by traditional credit risk metrics,” added Leemhuis.
Stay tuned to Silicon Canals for more updates in the tech startup world.
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