Alap Shah wants to reinvent one of Wall Street’s favorite wheels.
Sentieo, the new firm founded by the 35-year-old former hedge fund analyst, is the latest upstart financial data platform seeking a slice of the lucrative financial information provider market long synonymous with Bloomberg’s famous terminals.
Sentieo has signed up 85 finance clients, including hedge funds and investment banks.
They pay $500 to $1,000 a month — far less than the roughly $21,000 annual cost of a Bloomberg terminal.
Shah claims Sentieo stands out for fast, detailed equity research results that are easily synced across mobile devices.
Two titans dominate this market: Bloomberg, which racked up $8.9 billion in financial markets revenue last year, and Thomson Reuters, with $6.5 billion in financial markets revenue, according to consultant Burton-Taylor. But small upstarts see an opportunity for user-friendly services at cut-rate prices.
“In a mobile world, people want things faster and more easily,” says Hamza Khan, 29, head of commodities strategy at ING Bank in Amsterdam and a fan of newcomer trading platform Money.net.
Sentieo, which officially launched last month, joins other challengers — including Money.net and Goldman Sachs-backed Symphony, a financial messaging platform — that are taking aim at segments of Bloomberg’s business.
Money.net has tripled its subscriber base to more than 30,000 individuals in two years, plus eight of the 10 largest US banks, founder Morgan Downey told The Post.
Subscriptions cost $150 a month.