24 Sep 2018
Legal & General develops digital partnership with GrowthEnabler
As part of our commitment to driving digital innovations that will help create the businesses of tomorrow, we have teamed up with GrowthEnabler to help SMEs achieve greater exposure to FTSE 100 companies.
GrowthEnabler has devised a unique series of algorithms that help connect relevant start-ups with corporate companies. Founded in 2015, they study, track and interact with thousands of SME businesses around the world, unearth new business models, providing data and intelligence to business leaders, investors and entrepreneurs.
Co-founder Aftab Malhotra, said: “Our Artificial Intelligence (AI) technology, scoring algorithms and team collaboration tools will enable Legal & General to quickly discover new digital start-ups and solutions relevant to their business priorities and challenges.”
Informed investments into SME businesses
With access to around half a million start-ups, Aftab and his team use a unique blend of AI, Machine Learning (ML) and Natural Language Processing (NLP) to rate and score mass amounts of indexes, data and insights so that listed companies can make informed decisions of which SMEs to invest in.
Financial strength is determined through data from funding rounds and investment raised from various databases, with information validated via open-source technology and their own in-house developed custom creations. With our help, GrowthEnablers will be able to identify start-ups that can help solve any issues and work collaboratively on new products - creating value for both shareholders and the economy.
Martijn Moerbeek, Group Digital Strategy and Innovation Director at Legal & General, said: “We have a strong track record of supporting, investing in and accelerating the progress of fast-growth start-ups – from CareSourcer to Buddies to SalaryFinance. Our philosophy of patient capital and partnering for the long-term is perfectly suited to the start-up environment, where businesses need to know that their funding and commercial partners are stable and available. We are uniquely placed to be able to offer that commitment to the start-ups we partner with.”
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