Multiverse Computing, based in San Sebastián, applied to the EIC Accelerator as a quantum software company for finance. It built that product, Singularity. Its growth since has come from CompactifAI, which uses tensor networks, a technique from quantum physics, to shrink large language models so they run faster and cheaper.
The European Innovation Council granted €2,500,000 towards a €3.57 million project that ran from September 2022 to December 2024. The EIC Fund joined the company's €25 million Series A in March 2024. In June 2025 Multiverse raised €189 million, and in July 2026 it announced a Series C of up to €500 million at a €1.5 billion pre-money valuation, with the EIC Fund again among the investors.
Company file
- Legal entity
- Multiverse Computing SL, San Sebastián, Spain
- CEO
- Enrique Lizaso Olmos, co-founder
- Products
- CompactifAI (compressed AI models), Singularity (quantum software)
- Named customers
- Allianz, Bank of Canada, Bosch, Iberdrola, Indra, PwC, Telefónica
- Investors
- Bullhound Capital, Forgepoint, BNPP SIVF, HP, Santander, Toshiba, Quantonation, EIC Fund and others
- Patents
- More than 160, per company
- EIC project
- SINGULARITY, 1 Sep 2022 to 31 Dec 2024, closed
- EIC funding
- Blended finance
Where Multiverse Stands Today
The Series C, announced on 27 July 2026, is co-led by Forgepoint Capital International, BNPP SIVF and Bullhound Capital, with investors including Santander, Tikehau Capital, HP, Orange Ventures, the EIC Fund and the Basque government's Hazten fund. Multiverse said the round "may remain open" and would bring total funding to $800 million. It claims annualized revenue grew more than tenfold, with "96x year-over-year sales growth in Q1 of 2026", but does not give the revenue figure. In August 2026 Qatar Development Bank joined the round, and Multiverse said it would set up a regional headquarters in Doha.
The Technology: Quantum Maths for Banks, Then for AI
According to the CORDIS report, Singularity is "the first quantum software toolkit for finance", with an Excel plug-in, a Python API and web apps, and priced Bermudan derivatives "1,000–5,000× more efficient than Monte Carlo". CompactifAI applies the same tensor-network maths to AI: the company says it cuts the size of large language models by up to 95%, runs them four to twelve times faster and cuts inference costs by 50% to 80%.
"The prevailing wisdom is that shrinking LLMs comes at a cost. Multiverse is changing that."
Enrique Lizaso Olmos, CEO of Multiverse Computing, June 2025What the EIC Project Promised, and What CORDIS Shows
The project promised "the first quantum software toolbox for finance". CORDIS reports the toolkit built, with derivatives pricing, portfolio valuation and risk tools. The company's later announcements concentrate on CompactifAI rather than on Singularity, and do not say how much revenue the finance toolkit earns.
- A quantum finance toolkitDeliveredSingularity released.
- Faster pricingDeliveredUp to 5,000x, per CORDIS.
- Follow-on capitalDelivered€189M Series B.
- Singularity revenueNot shownNot disclosed.
What Has Happened Since the Award
The Money
In December 2021 the company relayed a Basque press report that the EU was investing €12.5 million in it; the split between grant and equity is not stated there. CORDIS records the €2.5 million grant. The EIC Fund took part in the March 2024 Series A led by Columbus Venture Partners and Quantonation, and is listed again in the Series C. The June 2025 Series B was led by Bullhound Capital with HP Tech Ventures, Santander Climate VC, Toshiba and others.
What cannot be checked
Multiverse's actual revenue, the size of the EIC Fund's stake, how much of the Series C has closed and how much the finance software still contributes are not public.
Why Europe Should Care
Multiverse now carries a €1.5 billion pre-money valuation. The EIC's grant funded a product that is no longer the company's main story; its equity stake gives the EU a share in the one that is.
What the project promised
The first quantum software toolbox for finance.
What the record shows
The toolbox built, then a pivot to AI compression, €189M raised and a €1.5B valuation.
The Verdict
A winner, on a different product
SINGULARITY delivered what it promised. Multiverse's success came from applying the same maths to AI, and the EIC Fund's early equity means the EU shares in it.
Multiverse Computing has not been asked for comment for this article. It is based entirely on company statements and EU project data, linked throughout.
