Meet FinanceGPT, the innovative generative AI startup that's shaking up the world of financial analysis.
Originally designed to assist startups and venture capitalists in Africa, FinanceGPT has expanded its horizons, now serving a diverse clientele including investment managers and finance officers keen to streamline their fiscal reporting.
Born from the 2023 Startup Battlefield 200 cohort, FinanceGPT utilises its proprietary AI models and the power of GPT-4 to generate insightful financial ratios, predict future performance, and forecast valuations based on uploaded accounting data. The result? A shareable financial analytics dashboard and text-based reports tailored to each company's data and user requests.
"We initially aimed to help startups organise their finances for investor readiness," explains CEO Phiwa Nkambule, who co-founded the startup with CFO Sibo Mkhonta in 2020. "However, we've seen demand from portfolio managers, retail traders, and company finance teams, who use our service to run their investment business or manage their portfolios."
While FinanceGPT has attracted global clients, its heart remains in Africa. The team is currently developing FinanceGPT Patches, a trio of lean language models designed to bridge the financial information gaps and biases of large language models like GPT-4 in emerging markets. One such model, FinanceGPT-SSA, will be proficient in native African languages, ensuring accurate financial insights on sub-Saharan Africa markets. Similar models for the Middle East, North Africa, and Asia-Pacific are also in the works.
"We're developing small language models to complement foundational models and fill the gap left by large language models in developing countries," says Nkambule. "We understand that the macro-economic dynamics in these regions are unique, and we're committed to capturing this accurately."
But that's not all. FinanceGPT is also developing a financial voice assistant proficient in several African languages to deliver financial advisory services. This assistant will be accessible through its own digital channels and partner financial institutions, reaching customers in rural areas.
As a member of Nvidia Inception since October 2022, FinanceGPT is leveraging Nvidia's technology to revolutionise financial advice and consultancy services. So, whether you're a startup, a VC, or a finance officer, keep your eyes on FinanceGPT – they're set to make waves in the financial world.
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