Dublin-based fintech company Quantmatix has completed a funding round that secured €2.7m in investments.
The company said the new funding will be used to expand its market reach and to accelerate the launch of its Software as a Service (SaaS) product.
Quantmatix uses advanced tools and algorithms that assist traders and investors in decision making.
Its proprietary algorithm, fueled by big data, artificial intelligence and machine learning, predicts prices and market performance across diverse asset classes, including equities, fixed income, FX, crypto, and commodities.
The funding round received support from the HBAN network (Halo Business Angel Network) and Enterprise Ireland, with Quantmatix having been part of their High Performing Start-Ups (HPSU) Class of 2022.
"Bolstered by this substantial financial investment, we are poised to swiftly introduce a pioneering SaaS product to family offices and professional investors," said Liam Boggan, head of Quantmatix.
Ciaran Gilsenan, All-Island Director, HBAN said it was encouraging to see Irish fintech opportunities like Quantmatix close an oversubscribed round.
"We're delighted to be part of their journey and excited to see their future growth made possible with this significant injection of funding," Mr Gilsenan said.
Quantmatix said the new funds will be used to expand its sales and marketing base in the US, Middle East and Asia and to support additional jobs and further investment in AI and big data analytics as it grows to 20 employees.
