Data analytics company Quantmatix has raised almost €3 million in funding from Irish angel investors in an over-subscribed round that will boost the company’s reach and accelerate the launch of its software as a service product.
The round was supported by the Halo Business Angel Network (Hban) and Enterprise Ireland. Quantmatix was previously part of the Enterprise Ireland High Performing Start-Ups (HPSU) programme in 2022.
Quantmatix has developed what cofounder Liam Boggan describes as “market GPS”, to help traders and investors to inform and time investment decisions, predicting prices and market performance across a range of asset classes that includes equities, fixed income, foreign exchange, crypto, and commodities. It does not offer investment advice, but supports regulated advisers to identify market trends.
Quantmatix was founded in 2021 by Mr Boggan and Paul Chew, and currently employs around 10 people with plans to double that number before the end of the year. It has plans to expand its sales and marketing base in the US, Middle East and Asia, tech expertise in AI and big data analytics as it is poised to take on the lucrative US market.
“Our product is also extremely good at identifying thematic shifts in the markets and shifts in investor preference between markets or sectors or asset classes,” Mr Boggan said.
The platform gives traders access to slow-moving persistent scores and actionable trading signals, to give them an edge in analysing asset classes and portfolios, and mitigate risks.
The latest funding will allow it to further develop AI-driven insights.
“This achievement represents the strength of Quantmatix predictive analytics and solidifies the trust emanating from our ever-growing client list of global hedge funds and asset managers. Bolstered by this substantial financial investment, we are poised to swiftly introduce a pioneering SaaS product to family offices and professional investors.”
The company will also add a number of new advisers to its board, with investor and senior independent director of Centrica Kevin O’Byrne joining alongside former Meta board member David Geraghty.
This is the latest investment by Hban angels, who have also backed companies such as GreyScout and Examfly.
“It is encouraging to see Irish Fintech opportunities like Quantmatix close an oversubscribed round. HBAN was delighted to support the Quantmatix team kick-off this investment round, helping to sharpen their investment proposition and build momentum around the funding,” said Hban director Ciaran Gilsenan. “We’re delighted to be part of their journey and excited to see their future growth made possible with this significant injection of funding.”
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