[Funding alert] Frankfurt-based Bavest Secures €1.1 Million in Pre-Seed Round Funding

It is an innovative fintech from Germany, founded by Pedram Babaei, William Todt and Ramtin Babaei in 2019. Initially started as a B2C fintech, the successful B2B pivot took place at the end of 2022.

It's infrastructure enables access to financial data, alternative data such as sentiment data or ESG and climate data. Bavest also provides AI-as-a-Service, enabling asset managers to use AI to assess portfolios for risk and accurately quantify climate impact. Central to this is Bavest's API, which companies rely on.

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The latest round of funding underscores investors' confidence in the company's vision and potential to revolutionize the way companies manage their finances and analyze data.

It was able to convince Christian Trummer, founder and chief scientist of Bitpanda, but also rezooM Capital as a strategic investor, Nautic Ventures as well as Jens Rehwinkel and Dieter Staib.

Additional investors include senior managing directors and partners in renowned management consultancies in the financial services sector or come from the banking and fintech sectors. They support the founders not only with strategic questions, but also with ongoing product development.

Ramtin Babaei said, "We are proud to have experienced investors from the areas of fintech and asset management on board. It confirms that experienced minds are convinced of our innovative concept and motivates us to continue with full power,".

founder and CFO Pedram Babaei said, “This round of financing will allow us to accelerate our product development, expand our sales activities and further strengthen our position as a leading provider of financial infrastructure for businesses,”.

William Todt, Founder and CTO at Bavest said, "Our technology is proving to be not just a tool, but rather a door opener to new dimensions in the investment process. It makes previously undiscovered data landscapes accessible and gives our customers the ability to make intelligent decisions that were previously out of reach,".

Bavest plans to use the funds from the financing round to scale its technology platform and expand its team to meet increasing demand for its services. The company will continue to work closely with its customers to develop tailored solutions that meet their individual needs.

About Bavest

Bavest, a Germany startup is an innovative fintech from Germany, founded by Pedram Babaei, William Todt and Ramtin Babaei. Bavest's infrastructure gives fintechs, banks and asset managers access to real-time financial data and alternative data. Especially in the area of ​​alternative data, Bavest can provide in-depth sentiment data as well as ESG & climate data and analyzes large amounts of data using a specially developed AI.