ETFS Capital Invests $7M In BITA

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.