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Daloopa, an AI-powered financial data platform, raised $13 million from Pavilion Capital, CEO Thomas Li tells Axios exclusively.

Why it matters: Generative AI is quickly reshaping financial research, but trust and transparency remain sticking points for institutional investors.

How it works: Daloopa's platform connects large language models directly to source-linked financial data, aiming to eliminate hallucinations and errors in analyst workflows.

Its first product was an Excel add-in that let analysts instantly update their financial models with new data.

"Everyone in finance spends a huge amount of time on manual data entry. The reason you don't automate this today is because the quality of automation isn't there," Li says.

Context: Li, a former buy-side analyst, launched Daloopa after seeing firsthand how much time and energy went into manual data entry and error-checking.

The New York-based company started by building dozens of specialized AI models, each designed to extract and structure a particular type of financial information with extreme accuracy.

"Instead of building one model that can do 1,000 different things, we built 100 models, each designed to do one singular task and do it really well," Li says.

Between the lines: Daloopa's models are now also available in Anthropic's Claude and OpenAI's GPTs, giving analysts the ability to run comps, scenario models, and analysis directly within AI tools.

The company operates on a seat-based SaaS model, with separate licenses required for each LLM integration.

Zoom in: Customers range from hedge funds and mutual funds to investment banks and corporates, who rely on fully verified, auditable data to drive investment decisions and regulatory compliance.

By the numbers: Daloopa covers nearly 4,700 public companies worldwide and claims to deliver up to 10 times more datapoints per company than traditional vendors.

Each figure is hyperlinked to original filings, footnotes, or transcripts, providing full auditability for customers.

"When large language models generate financial data, one out of two numbers can be wrong, which is an unacceptable error rate," Li says.

State of play: Daloopa is one of several AI startups catering to the institutional investment world, where demand for verified data and research automation is surging.

Last week, CapVest-backed SaaS platform Datasite acquired Blueflame AI, an agentic AI platform to automate dealmaking workflows.

Last month, Aiera closed a $25 million Series B backed by a consortium of Wall Street banks to build generative AI event intelligence and workflow tools for buy- and sell-side research teams.

In April, Rogo raised $50 million in Series B funding led by Thrive Capital to build an "AI analyst" platform for Wall Street deal teams and research desks.

Exclusive: Daloopa raises $13M for AI-powered financial data

The platform cuts hallucinations from financial research

Illustration of an open safe revealing a spreadsheet of data. 

Daloopa, an AI-powered financial data platform, raised $13 million from Pavilion Capital, CEO Thomas Li tells Axios exclusively.Why it matters: Generative AI is quickly reshaping financial research, but trust and transparency remain sticking points for institutional investors.

Exclusive: Daloopa raises $13M for AI-powered financial data

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