Dublin fintech Quantmatix dreams big for its ‘stock market GPS’

Quantmatix, a Dublin-based fintech, expects to close a €2.7 million funding round by the end of March. The business was founded by Liam Boggan and Paul Chew in 2021, currently has eight staff, and has raised €1.2 million in funding to date.

It has developed a financial market strategy and timing tool designed to help its customers improve their investment decisions. Boggan and Chew worked with each other extensively prior to starting Quantmatix, most recently with ABN Amro. It was from this experience that they decided to start the business.

“I’ve always been interested in market timing. Over the years, we learned that a company can be good for a very long time but buying and selling at the wrong time can kill you. Essentially, we have a big data algorithm analysing thousands of instruments across the world to create a product that works like a GPS for the market,” Boggan told the Business Post.

“We’re selling to global scale large asset managers. We are also actively servicing a group of hedge funds. That’s the core market right now. We’re planning to start targeting family office networks across Europe and the US. There’s a huge opportunity there.”

Quantmatix is also working on a simplified version of its product for casual traders, with Boggan saying the interest in cryptocurrencies and memestocks presents an opportunity.

“There’s an online trading community consisting of hundreds of millions of people now. That presents a big opportunity for us. People get bombarded with information, we’re able to distil it and put a context around it.”

The business is part of Enterprise Ireland’s high potential start-up unit. Boggan said the agency had provided it with significant help in reaching international markets.

Strong relationship

“We have a strong and positive relationship with them. They like what we are doing and they have been particularly supportive. We talk to them every day because they make introductions for us to all of their offices around the world,” he said.

Boggan said the additional funding raised by the business will play a key role in aiding its continued global growth. This will include trebling its staff over the next three years.

“While we are based in Dublin, essentially our focus is global. We service clients in New York, Dubai, Toronto, London, continental Europe, Hong Kong and Seoul. Right from the get go, the world has been our focus,” he said.

“Our dreams are huge. I could see us being in asset management ourselves. All the work we are doing towards being our own hedge fund or asset manager. It’s baby steps for now. We have ambitious targets and we’re not limiting ourselves in the potential of what we do.”

This Making it Work article is produced in partnership with Enterprise Ireland