Fintech & Ecommerce

Linq Raises $6.6 Million to Bring AI to Financial Analysts

Startup Linq raised $6.6 million in investment funds.

Linq Raises $6.6 Million to Bring AI to Financial Analysts

The mentioned money was received by the specified company as part of a funding round led by InterVest and Atinum. Kakao Ventures, Smilegate Investment, and Yellowdog also participated in this process.

Currently, the startup is entering the market with an artificial intelligence tool that can automate many tasks related to financial analysis and research. The company was founded last year by graduates of the Massachusetts Institute of Technology Jacob Chanyeol Choi and Subeen Pang. They won the Samsung Open Collaboration in 2023, an accelerator-like program hosted by Samsung Financial Network. After this victory, Jacob Chanyeol Choi thought about developing large language models for enterprises, especially those companies and organizations that operate in the financial services industry. According to him, awareness of the potential of a tool that could easily integrate with the data ecosystem of the firm became a kind of impulse for deciding on the foundation of a startup.

The Boston-based Linq approach to embedding and retrieving arrays of information involves transforming data into vectors and using techniques like vector search and retrieval-augmented generation to provide generative artificial intelligence services.

The startup claims that its AI agent applies domain-specific search. Linq also uses large language models to automate a variety of tasks, including scheduling and communication, scanning research reports, and building financial models. Also, in this case, AI can be applied as a tool for summarizing filings, earnings reports, and call transcripts.

In addition to the B2B service for enterprise clients, the startup also plans to develop B2C solutions for equity research using artificial intelligence.

It is worth noting that during the period of active integration of AI into various spheres of activity and workflows, the issue of cybersecurity is of particular importance. Scammers also have access to advanced technology. One of the tools to counter cybercrime is digital literacy. For example, a query in an Internet search system, such as how to know if my camera is hacked, will allow anyone to find out about the main manifestations of unauthorized access to a personal device.

As we have reported earlier, Morgan Stanley Says AI Helps Financial Advisers Save Time.

Serhii Mikhailov

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Serhii’s track record of study and work spans six years at the Faculty of Philology and eight years in the media, during which he has developed a deep understanding of various aspects of the industry and honed his writing skills; his areas of expertise include fintech, payments, cryptocurrency, and financial services, and he is constantly keeping a close eye on the latest developments and innovations in these fields, as he believes that they will have a significant impact on the future direction of the economy as a whole.