Daloopa closed a $18M Series B funding round for its AI-powered financial data platform
Daloopa closed an $18 million Series B led by Touring Capital and Morgan Stanley. Assisted by AI, Daloopa provides complete and up-to-date fundamental data to top financial institutions globally. Funds will help the company innovate its AI algorithms, and drive new market expansion.
New York-based Daloopa is a groundbreaking AI-powered fundamental and historical financial data provider. The company recently secured $18 million in a Series B funding round led by Touring Capital. Morgan Stanley and existing investor, Nexus Venture Partners participated in the funding round. The company has harnessed the power of AI to build a data infrastructure capable of delivering the most complete and accurate fundamental data to top-performing buy-side and sell-side financial institutions. Daloopa aims to replace the inefficient and error-prone methods currently dominating the data discovery process in financial institutions. Optimizing and facilitating data discovery enables analysts to claim back time to perform meaningful work.
The company plans to use the funds to continue innovating its proprietary algorithm to build solutions that enhance the fundamental data quality in the financial services industry. Additionally, Daloopa is preparing to accelerate its go-to-market strategy and expand to new European and Asian markets to keep up with customer demand. Currently, Daloopa counts hundreds of the largest financial institutions as partners and customers. Daloopa CEO Thomas Li stated they look forward to accelerating growth and deepening these partnerships in the coming years.
