Multiverse Computing Closes £1.5 M Funding; Startup Specializes in Quantum Algorithmic Solutions for Finance
(Multiverse) Multiverse Computing has just closed a 1.5 million euro funding round to finance its growth and internationalization process. This startup, with offices in Donostia and Toronto, specialises in quantum algorithmic solutions for the financial industry and already collaborates with some leading financial institutions.
The capital increase has been subscribed by the venture capital fund Quantonation, Seed Gipuzkoa, EASO VENTURES S.C.R., Mondragon Promotion Fund FCR and Penja Strategy, a society from promoting companies, in which a private investor Pedro Luis Uriarte, has the majority.
Multiverse Computing provides hyperefficient software for companies from the financial industry wanting to gain a strong competitive advantage by applying quantum computing solutions. Unsolvable issues, such as financial optimization, fraud detection and improvement in artificial intelligence solutions for the financial industry, will therefore be easily addressed.
By using quantum algorithms, Multiverse Computing is currently collaborating with BBVA and Bankia on several projects with regards to the optimization of financial portfolios, tax fraud detection, money laundering and credit cards, as well as, the prediction of possible financial “crashes”.
More collaborations with leading financial institutions worldwide are in preparation.