Photo: Bavest

Bavest: “Munich is known for its strong tech scene”

Founded in 2019, fintech Bavest has now opened a location in Munich in addition to its headquarters in Frankfurt. One of the founders introduces the company and explains why the Bavarian capital was chosen as a second base.

Munich Startup: Who is Bavest? And what do you do?

Ramtin Babaei, Bavest: Bavest is an innovative AI fintech from Germany, founded by Pedram Babaei, William Todt and Ramtin Babaei in 2019. Bavest’s infrastructure enables fintechs, banks and asset managers to access real-time financial data and alternative data. Particularly in the area of alternative data, Bavest can provide in-depth sentiment data as well as ESG and climate data and analyzes large amounts of data using a proprietary artificial intelligence system. Bavest delivers a wide range of different data, such as CO2 data, carbon footprint data, involvement risk analyses, ESG scores and much more. Above all, unlike existing providers, Bavest can also cover small and mid-cap companies.

Munich Startup: What do you expect from your new location in Munich?

Ramtin Babaei: Munich’s startup scene is growing very strongly, with major fintechs based here as well as large asset managers and private banks. It is an important step for us to continue to grow and to be close to existing and potential customers. Munich is known for its strong tech scene, and with TUM we have the opportunity to find and retain outstanding talent in the long term.

Munich is also home to large fintech VCs or VCs in general, so geographical proximity is good in that it is a refreshing change to meet investors locally.

Munich Startup: How have you perceived the Munich startup ecosystem so far?

Ramtin Babaei: The startup ecosystem in Munich is extremely diverse: from fintechs to deeptechs, there are many exciting startups and founders here. We have already established a number of contacts and are delighted with the open community. There are also a number of events, for example organized by UnternehmerTUM, that allow you to quickly find new contacts and exchange ideas.