The fintech firm, Quantmatix, recently secured nearly €3 million funding from angel investors in Ireland, expanding the company’s scope and facilitating the speedy roll-out of its SaaS product. The Halo Business Angel Network (Hban) and Enterprise Ireland backed the financing round. Earlier, in 2022, Enterprise Ireland included Quantmatix in its High Performing Start-Ups (HPSU) programme.
Cofounder Liam Boggan characterises Quantmatix’s unique creation as a ‘financial compass’ designed to assist investors with timing their investments by providing predictions on market trends and price movements across a varied portfolio of asset classes such as stocks, bonds, forex, crypto, and commodities. While it doesn’t provide investment advice, it aids regulated advisors in identifying market patterns.
Quantmatix initiated operations in 2021 under the leadership of Liam Boggan and Paul Chew. The company, with a current workforce of nearly 10 employees, plans to increase its workforce twofold before year end. The plan includes entering the American landscape with expansion initiatives in the Middle East and Asia, leveraging their proficiency in AI and big data analytics.
The fintech’s offering excels in spotting patterns and variations in investor tastes across different markets and portfolios, Boggan added. Quantmatix offers traders tools for detailed analysis of multiple asset classes and portfolios through actionable trading signals and sustained, slow-moving scores, helping them offset potential risks.
Proceeds from the latest funding will help enhance their ability to create AI-based market insights. Boggan referred to the funding as a testament to the efficacy of Quantmatix predictions and the growing confidence of their client base that includes global hedge funds and asset managers.
In the wake of this considerable financial backing, they are ready to rapidly roll out their groundbreaking SaaS product to cater to family offices and professional investors. To boost their governance, the company will be welcoming experienced advisors such as Kevin O’Byrne, investor and independent director at Centrica, and David Geraghty, a former board member at Meta.
This funding round is the latest among the investments made by Hban angels. They previously invested in firms like GreyScout and Examfly.
The successful completion of an oversubscribed round by Irish Fintech initiative Quantmatix has been met with positivity. HBAN’s director, Ciaran Gilsenan, expressed great satisfaction in being able to back the initiation of this funding round. This support assisted Quantmatix in refining their investment proposition and fostering interest around the financing. Gilsenan joyfully highlighted HBAN’s involvement in their progress and expressed eagerness for the anticipated expansion following this substantial funding boost.