TLDR: Daloopa, a leading provider of AI-powered fundamental and historical financial data, has successfully closed an $18 million Series B funding round. This investment, led by Touring Capital with participation from Morgan Stanley and Nexus Venture Partners, will fuel the company’s innovation in AI algorithms and support its expansion into new markets.
New York-based Daloopa, a pioneering force in AI-powered fundamental and historical financial data, has announced the successful completion of an $18 million Series B funding round. The investment was spearheaded by Touring Capital, with significant contributions from Morgan Stanley and existing investor Nexus Venture Partners. This substantial capital injection is set to accelerate Daloopa’s mission to revolutionize data discovery in financial institutions, replacing inefficient and error-prone manual methods with advanced AI solutions.
Daloopa’s platform is designed to deliver the most complete, accurate, and rapid fundamental data directly into analysts’ models, streamlining financial modeling, ramping up new coverage, and updating models with unprecedented efficiency. The company’s proprietary AI algorithms automate the sourcing, organizing, and seamless delivery of data, continuously learning and improving to stay ahead of industry demands.
Thomas Li, CEO and Founder of Daloopa, emphasized that the company’s commitment to AI was not driven by hype but by its effectiveness in solving complex data challenges for customers. He stated, ‘This milestone is not merely about capital; it’s about acceleration. Our investors have shown a deep belief in our vision, and this new funding will enable us to innovate faster and expand our reach.’
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The funds will be strategically utilized to further enhance Daloopa’s proprietary algorithms, build solutions that elevate the quality of fundamental data in the financial services industry, and accelerate its go-to-market strategy. Daloopa also plans to expand its presence into new European and Asian markets to meet growing customer demand. Currently, Daloopa partners with and serves hundreds of the largest financial institutions globally. Li expressed his anticipation for accelerating growth and deepening these partnerships in the coming years.
