Our client, Fyva, is an investment research firm that fully automates high-quality investment analysis with AI. They cover companies across all stages – from early-stage startups to publicly traded companies across various industries, delivering unbiased, objective investment analysis in less than 10 minutes. Buy-side and sell-side firms consume insights from Fyva’s analysis to make better decisions.

The two co-founders, Nemi (CEO) and Nic (Head of Research), have a combined 12+ years of analyst experience across equity research, venture capital, private equity and corporate finance, and studied at London Business School and Imperial College Business School. They have extensive experience of building LLM workflows, including developing a report writing tool as an AI copilot for finance analysts. They are now combining their AI skill set and finance domain expertise to deliver fully automated investment analysis.

Fyva is currently covering the analysis of Seed stage Tech startups. Feedback on the performance has been overwhelmingly positive from early users and testers, including Venture Capital firms, Investor Syndicates, Startup Advisory firms and Accelerators. There’s strong market interest and the team selected 5 firms in their trial phase, and 2 other firms are currently in onboarding process following trial and have committed to pay. 

We are seeking three investing Non-Executive Directors with one of the following areas of expertise: 

  • Experience in research & analysis of early stage to mature companies in one or more of the following industries: Venture Capital, Private Equity, Equity Research, Hedge Fund, Investment Banking
  • Experience in networking and sales to our customer profile, i.e. buy-side and sell-side firms
  • Experience in applying AI in financial services
  • An additional Non-Exec with CFO experience or strong financial expertise to become the company’s Non-Exec FD

 

It is expected that the roles will require approximately 2 or 3 days per month – potentially more in the early stages. 

The incoming Non-Executive Directors will be encouraged to become shareholders in the Company with an initial investment of £25k to £50k to align their interests with that of the existing Board Members.

Market & Opportunity: 

  • Problem: Buy-side and sell-side analysts find it difficult to generate quality investment insights and this directly impacts decision making. The founders, themselves, experienced this pain point because human analysts have limited knowledge and cognitive bias, and are under constant pressure to deliver in the fast-paced financial services industry.
  • Solution: Fyva fully automates high-quality investment analysis, and integrates directly into users’ existing systems. This enables users to consume the automated analysis with minimal disruption to their current workflow.
  • Investment research coverage:
    • The current investment analysis covers Seed stage Tech startups, and this is the traction
      • 35+ firms, based in the UK, Europe and US, have tested Fyva’s analysis on pitch decks they were assessing
      • 5 selected firms are in trial phase
      • 2 firms being onboarded post trials and have committed to pay.
    • Long term, Fyva will cover all industries (e.g Biotech, Chemicals, Defense, Climate, etc) as well as companies across all stages from early stage startups to publicly traded companies. Users will also include Private Equity, Investment Banking and Investment Management firms.
  • USP: The USP is the quality and consistency of their automated analysis. This performance derives from their extensive research into 1) building LLM workflows, 2) developing investment frameworks, and 3) creating their own data. They are continuously conducting research to improve the quality of the analysis.
  • Market: Fyva estimates its target market size to be at least $23.5 billion, with 471,000 firms across Private Equity, Venture Capital, Investment Banking, Investment Management and Financial Advisory - at an average ACV of $50,000 per firm.
  • Business Model: Fyva is going after the HR budget, selling recurring work instead of software. They sell monthly bundles of analysis and pricing varies according to the type and volume of analysis required. They also make money by charging a customisation and integration fee.
  • Ask: They have bootstrapped so far and with the early market validation, they are now raising a first round of £150,000 to achieve their first milestone: 10 paying clients consuming Fyva’s analysis on a daily basis.

 

A copy of the pitch deck will be provided to candidates who meet the criteria and on signing an NDA.

No Remuneration will be paid to the incoming Non Execs until the company is cash positive and profitable which is expected to be within 18 months.  The company is registered for EIS & SEIS tax relief.

Applying for the role:

Candidates who feel they meet the above criteria are invited to apply having first registered their CV with First Flight Non-Executive Directors (if they have not already done so – there is no charge) by using our “Apply for Role” tab for role no: 1207 and completing the application form explaining how they match the key criteria we have set out for the role.

Closing date for applications: Monday, 19th February 2024

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