Copenhagen-based Financial News Systems (FNS), an AI-only monetary newsroom, has raised a €1.5 million pre-Seed spherical to speed up the event of their monetary information and information service.
The spherical welcomed Ugly Duckling Ventures as a serious investor.
“Our fashions substitute the necessity for monetary journalists to manually collect, learn, distill and distribute this information and information, making monetary data sooner, extra correct and extra accessible, at scale,” says Gelu Sulugiuc, co-founder and CEO of FNS.
FNS’s pre-Seed sits inside a broader cluster of AI-enabled monetary software program and information infrastructure rounds: Copenhagen-based Light raised €25 million to develop to the US, triple its engineering workforce and construct out deployment; Stockholm-based Grasp raised €6 million to reinforce productiveness instruments for monetary analysts and consultants; Geneva-based Allasso raised €2.5 million to convey AI-ready analytics to choices buying and selling; London-based Coremont secured €34 million to speed up its institutional analytics platform; and Paris-based Finary raised €25 million to develop its AI-powered wealth instruments throughout Europe.
Taken collectively, these adjoining rounds quantity to about €92.5 million, or roughly €94 million together with FNS, indicating sustained investor curiosity in AI-led monetary intelligence, analytics and working infrastructure relatively than solely shopper FinTech.
“Monetary Information Programs combines uncooked velocity with clever automation to ship a service that creates an ongoing edge for funding professionals. This sits squarely in our enterprise service theme, however what actually satisfied us was the workforce. Gelu and Nicolai have been right here earlier than, they’ve constructed and exited on this house, and now they’re again to construct one thing even larger,” provides Andreas Inexperienced Rasmussen, co-founder and GP at Ugly Duckling Ventures.
Based in 2024, FNS trains specialised AI fashions that extract information and information from monetary press releases and regulatory filings, delivering it with “zero latency” to skilled buyers and analysts.
FNS covers 9,000 corporations from the US, Canada and Europe in actual time, with no single journalist concerned within the publishing course of.
FNS has international industrial partnerships with Dow Jones and FactSet.
With the brand new funding from Ugly Duckling, the Danish startup will add extra AI fashions for information and information on IPOs, insider buying and selling, macroeconomic statistics, central financial institution rate of interest choices, fundamentals information and extra.
Sulugiuc and FNS co-founder and CTO Nicolai Pedersen had been beforehand the founders of PLX AI, which was acquired by Thomson Reuters in 2022.
