The German B2B fintech Bavest has raised 1.1 million euros in a financing round. The round was led by a group of renowned investors – including Bitpanda co-founder Christian Trummer. The fresh capital is intended to accelerate the growth of Bavest, which specializes in AI-based financial infrastructure for companies.
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Bavest completed a B2B pivot in 2022
The founders of Bavest are Pedram Babaei, William Todt and Ramtin Babaei. They launched their fintech in 2019. The young company was initially a B2C fintech, but at the end of 2022 the team completed a B2B pivot. 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 sentiment data as well as ESG & climate data and analyzes large amounts of data using a specially developed AI. The startup provides a wide range of different data, including CO2 data, carbon footprint data, involvement risk analyzes and ESG scores. 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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“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,” said co-founder and CFO Pedram Babaei. With its services, Bavest aims to revolutionize the way companies manage their finances and analyze data.
In addition to Christian Trummer, the startup has now also gained rezooM Capital, Nautic Ventures as well as Jens Rehwinkel and Dieter Staib as investors. Additional donors include senior managing directors and partners in renowned management consultancies in the financial services sector. They support the founders not only with strategic questions, but also with ongoing product development.
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“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,” explains co-founder Ramtin Babaei about the fintech company’s latest round of financing.
Bavest wants to use the funds from the financing round to scale its technology platform and expand its team. The company wants to continue to work closely with its customers to develop tailored solutions that meet their individual needs.
“Our technology proves 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,” explains William Todt, founder and CTO at Bavest.