OpenInvest collects $10.5m in its Series A1

OpenInvest, a portfolio advisor platform, has collected $10.5m in its Series A1 round which was led by QED Investors.

Other contributions came from SystemIQ, Resolute Investment Managers and ABN AMRO Ventures. The round puts OpenInvest’s total capital raised to $23.8m since it was founded in 2015.

With the new capital, the FinTech is looking to increase its global presence.

OpenInvest is an asset manager which supports customisation, direct indexing, impact reporting and ESG investing. The company provides financial institutions with the ability to personalise the investing experience for customers and help them see the impacts their investments have.

Over the past year, OpenInvest formed two new partnerships with Legal and General Investment Management America and Bank of the West. It also expanded its impact reporting and tax optimisation capabilities and added disability inclusion, racial justice and heart healthy investing categories to its offering.

OpenInvest chief strategy officer and co-founder Josh Levin said, “OpenInvest is disrupting traditional asset management and ushering in the post-fund world. Our software enables financial advisors to seamlessly personalize products for clients according to their values and tax situations.

“Our new round of funding helps us expand engineering capacity to meet rapidly growing demand across wealth and asset management platforms.”

The FinTech initially collected $10.4m in its Series A back in 2018 from investors including QED Investors, Andreessen Horowitz, SYSTEMIQ, Wireframe Ventures, Yard Ventures and Abstract Ventures.

Copyright © 2020 FinTech Global

Enjoying the stories?

Subscribe to our daily FinTech newsletter and get the latest industry news & research

Investors

The following investor(s) were tagged in this article.