Bavest Raises €1.1M in Funding

Bavest, a Frankfurt, Germany-based B2B fintech startup, closed a €1.1m funding round.

Backers included Christian Trummer, founder and chief scientist of Bitpanda, rezooM Capital, Nautic Ventures, Jens Rehwinkel, and Dieter Staib, among others.

The company intends to use the funds to accelerate its growth and further consolidate its position as a provider of AI-based financial infrastructure for businesses.

Founded by Pedram Babaei, William Todt and Ramtin Babaei in 2019, Bavest provides an infrastructure that gives fintechs, banks and asset managers access to real-time financial data and alternative data, such as: B. CO₂ data, carbon footprint data, involvement risk analyses, ESG scores and more.

The company also provides an AI-as-a-Service solution that enables asset managers to use AI to assess portfolios for risk and accurately quantify climate impact.