By ET Bureau - July 06, 2022 2 Mins Read
Fintech company Deshe Analytics announced a $6.5 million seed funding round led by Group 11, with participation from Psagot Investment House and the founders of WIX.com, Avishai Abrahami and Nir Zohar.
Deshe has developed sophisticated AI driven algorithms which analyze public companies around the world and generate a research report for every stock. The company was founded in 2019 by Gaby Diamant, brothers Dor and Or Eligula, and Mor Hazan.
Using Deshe’s analysis, all investors – sophisticated and unsophisticated – can enrich and deepen their understanding of stock markets in their native language. The need for advanced analysis has recently become acute in light of the collapse in global markets – with many investors suffering losses due to knowledge gaps, shortage of education, and lack of access to advanced analysis tools.
Deshe’s AI system draws data on a selected company, processes it, and produces a report within seconds that analyzes the company in any language alongside a buy, hold, or sell recommendation.
In the past year, Deshe has captured significant market share amongst prominent financial institutions in Israel. The funds raised will be used to further develop Deshe’s suite of products.
“The dramatic growth we have experienced among major financial entities in the local market has provided us with a springboard for further growth. With the new financing, we will strive to replicate our local success in international markets and make advanced analysis technology accessible to investors all over the world,” said Gaby Diamant, CEO of Deshe Analytics.
“Advanced analysis tools like ours enable any investor to make better decisions. Understanding the rationale behind an investment is as important as the returns. This is what we, and our partners, believe will lead to greater investing success in the long run.”
Dovi Frances, Founding Partner of Group 11, stated: “The future lies in transparency of data, behind any investment one makes. However, only those who know how to make the information and analysis accessible in a clever, efficient, and transparent fashion will succeed in this task. We believe the significant traction of Deshe’s product in the Israeli market is a wonderful indication of Deshe’s ability to expand globally.”
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