Velvet AutoInvest Receives $1.3M Seed Investment
Summary
Limassol, Cyprus (ots) Velvet Software Technologies receives a seed investment of USD 1.3 million, as well as support from star investor Yair Goldfinger. The financing took place after the target of exponential customer growth and a strong performance expansion of the AI-based Velvet algorithms had been achieved. The mission is to provide private investors with a financial investment using the latest technology that has so far mainly been reserved for hedge funds.With the new liquidity, Velvet will continue to optimize and scale its fintech offering from integration to user experience at an accelerated rate.Yair Goldfinger: For me, young, talented and motivated teams that achieve incredible results are the most important building block in a company. The core is a random forest algorithm for machine learning, which uses over 1,300 data points to predict expected values for various trading tactics with a very high degree of probability. Based on this, trading decisions are weighted and the investment strategy is flexibly adapted to new market conditions for sustainable asset accumulation.
Funding
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