BigBrainBank, a Malaysian startup that digitally assists investors in making trading decisions, said today it has raised a “7-figure USD” in seed funding from unnamed angel investors.
The platform, developed using a wide range of Big Data, Machine Learning, and AI technologies, collates years of market information and matches them with an optimised, deep-learning algorithm that generates smart trade suggestions for users.
The goal is to allow ordinary people to make investments with minimal technical or financial knowledge.
BigBrainBank is a robo-advisor whose platform comes with a range of tools to make investing easier, ranging from risk level management, news filters, backtesting/market analysis, to social media sentiments.
Its boasts of a feature that notifies users on what to trade and when to trade based on historical data that it claims to have more than 65 per cent accuracy.
The platform also includes multi-channel analysis on commodities, indices, bonds and forex, with plans to integrate multi-broker accessibility in the longer term.
Since the launch in July 2020, BigBrainBank’s core product, The Brain – AI Trade Strategies app, has garnered over 60,000 trial users who registered over the app stores and website, the company said in a press note.
While the platform is designed on a freemium basis, the company charges an annual subscription of US$300 for more advanced features.
Moving forward, BigBrainBank expects to draw in 100,000 more subscribers by the year end.
As of today most of the current subscribers are from Malaysia, with 20 per cent coming from Singapore, Indonesia, Thailand, Taiwan, and Dubai.
In 2021, BigBrainBank intends to penetrate into new markets in the Philippines and Hong Kong, and thereafter to the rest of Asia.
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