ETFS Capital Invests $7M In BITA

The index technology company is challenging the dominance of the big index providers.

sumit
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Senior ETF Analyst
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Reviewed by: Sumit Roy
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Edited by: Sumit Roy

Today, ETFS Capital, an investment company focused on growth opportunities across the investment ecosystem and the owner of ETF.com, announced that it had provided €6 million (US$6.9 million) of Series A funding to BITA, a provider of end-to-end infrastructure for indexation and systematic investing.

BITA’s platform allows institutions to design, backtest, calculate and benchmark investment strategies and indexes without having to rely on traditional index solutions, data vendors and internal tools.

The company’s products include BITACore, an all-in-one platform for self-indexing and construction of systematic investment strategies; and BITA Ace, a real-time calculation platform for maintenance of indexes and data products. 

BITA, which got its start in Europe, has ambitions to become an index technology provider for the world.

In announcing the funding, ETFS Capital Managing Director Martyn James suggested that he believes BITA can help reduce the investment industry’s reliance on the big index providers.

“We are constantly asked about who can challenge the big index providers’ dominance. Our investment shows that we believe it is BITA, with their tech-first approach,” he said. “Index expertise alone is not enough. What is needed for ‘scaled disruption’ is the provision of a comprehensive indexing technology solution, which has not been available to date.”

Victor Hugo Gomez, CEO and co-founder of BITA, said that he hopes BITA can become the “rails and the roads” where investment customization will run.  

BITA was founded in 2018 and had raised $1.4 million of seed funding prior to today’s Series A, according to Crunchbase.

Sumit Roy is the senior ETF analyst for etf.com, where he has worked for 13 years. He creates a variety of content for the platform, including news articles, analysis pieces, videos and podcasts.

Before joining etf.com, Sumit was the managing editor and commodities analyst for Hard Assets Investor. In those roles, he was responsible for most of the operations of HAI, a website dedicated to education about commodities investing.

Though he still closely follows the commodities beat, Sumit covers a much broader assortment of topics for etf.com, with a particular focus on stock and bond exchange-traded funds.

He is the host of etf.com’s Talk ETFs, a popular video series that features weekly interviews with thought leaders in the ETF industry. Sumit is also co-host of Exchange Traded Fridays, etf.com’s weekly podcast series.

He lives in the San Francisco Bay Area, where he enjoys climbing the city’s steep hills, playing chess and snowboarding in Lake Tahoe.