Multiverse Computing raised €10 million in seed funding.

Multiverse Computing, a Donostia (San Sebastian), Spain-based software developer for the financial industry, announced that it completed a €10 million ($11.55 million) seed funding round.

The money was raised from investors led by JME Ventures and included the participation of Quantonation, EASO Ventures, Inveready, CLAVE Capital (Mondragón Fondo de Promoción), Ikerlan, LKS (part of Mondragon Corporation), Penja Strategy, Seed Gipuzkoa and Ezten Venture Capital Fund.

Multiverse Computing, founded in 2019 by CEO Enrique Lizaso and Román Orús, develops software as a service solutions for companies in the financial sector that gain a strong competitive advantage through the application of quantum computing tools. The tools are used for financial optimization, fraud detection and substantial improvement of artificial intelligence solutions in the financial field, and used within projects for optimizing financial portfolios with BBVA and Bankia, detect tax fraud, money laundering and credit cards, as well as predict financial “crashes” using quantum algorithms.

Multiverse Computing previously raised €1.5 million in 2020.