Toronto headquartered algo-advisor Delphia has acquired Fathom Privacy, a data rights company that allows individuals to take ownership of their personal application data. The financial terms of the deal have not been disclosed.
Delphia is a membership-based investment collective where people pool their data to gain access to exclusive investment strategies.
The investment strategies offered by Delphia use an AI that is trained on both financial and consumer data. To this end, Delphia relies on its community to willingly share their personal data in order to create a proprietary data set that can lead to greater predictive capabilities than what Wall Street hedge funds can accomplish.
Fathom Privacy streamlines data sharing across apps by packaging data collected from consenting users into an easily digestible format, allowing for efficient data portability. Fathom’s services are compliant with US data rights legislation and Delphia will be integrating the core technology from Fathom to interact with user data.
“We’re excited to fully integrate Fathom Privacy into the Delphia platform and continue leveling the playing field between Wall Street and Main Street. The acquisition is the latest step in our mission to revolutionize investing through ethical data use and give our community access to hedge fund-grade investment strategies,” commented Andrew Peek, CEO of Delphia.
“Fathom’s technology will give members the reins to take ownership of their data and allow them to ensure that the data we’re collecting is being used to maximize the benefits received from contributing.”
The integration of Fathom’s technology will play a key role in the Company’s ability to access and interpret data that isn’t available to other hedge funds for purchase, allowing Delphia to build investment strategies for Main Street that have an edge over Wall Street.
The technology increases the overall transparency of Delphia’s platform by compiling user data into one easy-to-interpret package that allows contributors to oversee what data is accessed and how it’s used.
The acquisition closed in October 2022 and the Fathom platform is set to be fully integrated by the end of 2022.
Earlier this year Delphia closed a USD $60 million funding round led by Multicoin Capital.