Daloopa Open-Sources Financial Modeling Tools
Financial data company Daloopa has open-sourced several of its internal tools on GitHub. The release includes utilities for initiating reports and managing financial models. The move allows developers to fork and build upon the tools for their own financial analysis and data workflows without relying on proprietary software.
Founded in 2019 by Thomas Li, Daniel Chen, and Jeremy Huang, Daloopa's origins trace back to a Long Island basement where the co-founders spent three years building their AI-powered financial data tool before its official launch. The CEO, Thomas Li, drew from his previous experience in equity research to create a platform that automates the manual data entry he found tedious. The company's core business is an AI-driven platform that extracts and structures financial data from SEC filings and earnings reports for investment professionals. As a Series B company, Daloopa has raised over $55 million in funding from investors that include Touring Capital and Next Investors. Daloopa operates in a competitive space against financial data giants like Bloomberg Terminal, Capital IQ, and Tegus, which traditionally offer proprietary, high-cost data solutions. This move to open-source internal tooling represents a strategic shift in an industry built on closed data ecosystems. The open-sourcing initiative is part of a larger strategy to become the underlying data infrastructure for AI in finance. By providing foundational tools, Daloopa aims to empower developers to build agentic workflows and next-generation financial analysis applications on top of its data layer. This strategy is already in motion through integrations with major large language models. Daloopa developed a "Model Context Protocol" (MCP) that acts as a connector for Anthropic's Claude and OpenAI's ChatGPT, allowing the AI models to access its structured financial data directly. For developers looking to explore the release, the open-sourced tools can be found on Daloopa's GitHub page. One of the public repositories made available is `finretrieval`, a Python-based tool.
