Cyprus fintech startup raises $25 million

Cyprian fintech startup has raised $25 million from Larnabel Enterprises and VP Capital and launched its mobile trading app.

The app allows investors to trade financial products and receive updates from its patent-pending Smart Feed with news, analysis, and research based on user behaviour. The app, the company claims, uses AI to detect common trading biases and patterns.

The Limassol-based company has also launched an app called Investmate for new and amateurs traders to learn how to trade.

“By taking advantage of the most advanced AI technologies, is able to analyze traders' behaviors in real time, subscribe them to bespoke educational channels,” said Kira Bondareva, CEO, “and then, based on their activity, provide instructions on how to avoid certain biases, such as either the overconfidence bias or disposition effect.”

The AI-powered app will help expand market access for traders, added Viktor Prokopenya of VP Capital.

The company is regulated by the Cyprus Securities and Exchange Commission.

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