Yields.io, a Ghent, Belgium–based model validation service provider, raised €1.25m in seed funding.
The round was led by Volta Ventures, with participation from Pamica NV, the investment company of Michel Akkermans, former chairman and CEO of Clear2Pay and FICS. In conjunction with the funding, both Volta Ventures and Michel Akkermans will join the Yields.io board.
Founded in April 2017 by James D’Aquino, Sébastien Viguié and Jos Gheerardyn, Yields.io offers automated model monitoring and validation services to the financial sector, identifying issues in algorithms and turning them into actionable business insights. The solution provides C-level executives with a real-time comprehensive overview of all model risk across the enterprise.
Simultaneously, it provides quantitative teams with a solution to shorten the development cycle and address new business opportunities quickly.
The platform is used by managers, model validators, developers, risk managers and traders to detect and remediate model issues and to improve model governance.
The company currently employs seven people out of its offices in Ghent (Belgium) and New York City.
FinSMEs
14/01/2018