Copenhagen-based Financial News Systems (FNS), an AI-only financial newsroom, has raised a €1.5 million pre-Seed round to accelerate the development of their financial news and data service.
The round welcomed Ugly Duckling Ventures as a major investor.
“Our models replace the required for financial journalists to manually gather, read, distill and distribute this news and data, creating financial information rapider, more accurate and more accessible, at scale,” declares Gelu Sulugiuc, co-founder and CEO of FNS.
FNS’s pre-Seed sits within a broader cluster of AI-enabled financial software and data infrastructure rounds: Copenhagen-based Light raised €25 million to expand to the US, triple its engineering team and build out deployment; Stockholm-based Grasp raised €6 million to enhance productivity tools for financial analysts and consultants; Geneva-based Allasso raised €2.5 million to bring AI-ready analytics to options trading; London-based Coremont secured €34 million to accelerate its institutional analytics platform; and Paris-based Finary raised €25 million to expand its AI-powered wealth tools across Europe.
Taken toobtainher, those adjacent rounds amount to about €92.5 million, or roughly €94 million including FNS, indicating sustained investor interest in AI-led financial innotifyigence, analytics and operating infrastructure rather than only consumer FinTech.
“Financial News Systems combines raw speed with innotifyigent automation to deliver a service that creates an ongoing edge for investment professionals. This sits squarely in our business service theme, but what really convinced us was the team. Gelu and Nicolai have been here before, they’ve built and exited in this space, and now they’re back to build something even hugeger,” adds Andreas Green Rasmussen, co-founder and GP at Ugly Duckling Ventures.
Founded in 2024, FNS trains specialised AI models that extract news and data from financial press releases and regulatory filings, delivering it with “zero latency” to professional investors and analysts.
FNS covers 9,000 companies from the United States, Canada and Europe in real time, without a single journalist involved in the publishing process.
FNS has global commercial partnerships with Dow Jones and FactSet.
With the new funding from Ugly Duckling, the Danish startup will add more AI models for news and data on IPOs, insider trading, macroeconomic statistics, central bank interest rate decisions, fundamentals data and more.
Sulugiuc and FNS co-founder and CTO Nicolai Pedersen were previously the founders of PLX AI, which was acquired by Thomson Reuters in 2022.
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