Auquan secures £1m seed funding led by Episode 1 to expand its data scientist community and senior hires.
The funding round was led by Episode 1 to support key senior hires and community expansion.
Auquan provides an artificial intelligence platform designed to automate complex knowledge work for financial services firms. Its technology helps major asset managers and banks streamline tasks like credit memos and risk monitoring.
London based fintech startup Auquan has secured £1m in a seed funding round led by Episode 1. The fresh capital will be deployed to recruit key senior personnel and expand the company community of data scientists.
Auquan operates a crowdsourced platform that allows investment funds to translate complex financial challenges into mathematical puzzles. These puzzles are solved by a network of data scientists, providing clients with machine learning models designed to improve market performance.
The company was launched in 2018 and has since built a community comprising over 10,000 data scientists. Its platform draws talent from institutions such as Oxford and MIT to tackle financial modelling tasks.
From the founder
"The work of data scientists is especially important in the area of finance, where a single slip in rationality can lead to a devastating effect on the value of an investment portfolio. Algorithms don’t feel the emotional strain of a declining portfolio value, or make flawed decisions tainted by innate human biases. As a result, algorithmic decision making in financial markets has grown explosively in recent times."
Chandini Jain
Co-founder and CEO at Auquan
Use of funds
- 01Grow the team
- 02Expand into international markets
