Karlsruhe-based fintech Bavest: going public with AI
Predicting stock market prices is a difficult task for non-experts. After all, if you invest in shares at the wrong time, you could end up with hefty losses instead of the profits you had hoped for. To make it easier for private investors to enter the stock market, the brothers Ramtin and Pedram Barbaei founded the company Bavest Technologies was founded. Share prices are analyzed and predicted with the help of artificial intelligence.
“Analyzing share prices using AI has a long tradition in the financial sector. But private individuals have not yet had access to such systems,” says Pedram Barbaei. The fintech was founded in July 2020. Now the two brothers want to really take off.
Predicting stock market prices is a difficult task for non-experts. If you invest in shares at the wrong time, you could end up with hefty losses instead of the profits you had hoped for. To make it easier for private investors to enter the stock market, brothers Ramtin and Pedram Barbaei founded Bavest Technologies. Share prices are analyzed and predicted with the help of artificial intelligence. “Analyzing share prices using AI has a long tradition in the financial sector. But private individuals have not yet had access to such systems,” says Pedram Barbaei. The fintech was founded in July 2020. Now the two brothers want to really take off.
There is a need for financial advice
According to the Barbaeis, there is definitely a need for reliable financial advice. “Many people are currently leaving their money in the banks. But there is hardly any interest there and so savings are losing value due to inflation,” says Pedram Barbaei. Profitable alternatives are currently hard to find for investors. The real estate market is overheated, funds are associated with risks and the file market has too many hurdles for laypeople. The Barbaeis want to remove these hurdles. So far, the founders cannot complain about a lack of demand. According to their own information, Bavest is already used by around 2,000 customers to help them navigate the stock market jungle, and around 300 small investors regularly seek advice from Barbaeis. Bavest costs just 4.99 euros to analyze a share. By comparison, the cost of analysis software used in the financial sector is around 5,000 euros.
Already invested in shares at the beginning of your studies
The brothers developed the first idea for their own fintech a few years ago. Pedram Barbaei had already successfully invested in shares at the beginning of his studies. “More and more people came up to me and wanted to know how I was doing it,” Pedram Barbaei recalls. Together with his older brother Ramtin, he then developed the first concepts for innovative share analysis. With the first version, the brothers made it to the final of the GROW start-up competition organized by the student university group PionierGarage in January 2018. The Barbaeis received the technical tools to develop the analysis software during their studies. 23-year-old Ramtin is studying computer science at the Karlsruhe Institute of Technology (KIT), while 21-year-old Pedram is studying business mathematics. For the brothers from Bad Schönborn, the Karlsruhe TechnologyRegion is the ideal location for a fintech due to the many experts in the fields of digitalization and AI.
Dream of owning your own company
For the time being, however, studying has absolute priority for the two company founders. Only after graduating from do they want to focus on their company full-time. “We now have enough time to further develop our ideas and make contacts in the financial world,” says Pedram Barbaei. “And running our own company has always been our dream.”