New York-based Titan, which claims to be building operating systems for active investment management, has collected $12.5m for its Series A.
General Catalyst served as the lead investor, with commitments also coming from Ashton Kutcher and Guy Oseary’s Sound Ventures, Scribble VC, BoxGroup, Y Combinator, South Park Commons, Instagram founder Mike Krieger, Lee Fixel, Kevin Hartz, Josh Reeves and others.
As part of the deal, General Catalyst partner Katherine Boyle has joined the FinTech’s board.
The company, which aims to rival Fidelity and BlackRock, has earmarked the fresh capital to increase the size of its engineering and investment team. Funds will also be used to further the development of its product, marketing and operations.
Additionally, the company is looking to release several new investment products across asset classes.
Titan has closed the round after a strong year, which culminated in a 600% growth and nearly $500m assets under management.
Titan founder and co-CEO Joe Percoco said, “While technology has penetrated several sectors of consumer finance, a trusted investment management platform for coming generations has yet to emerge.
“We are building Titan to be exactly that: the operating system that will provide everyday investors access to the types of investment products and experiences that they’ve historically been locked out of.”
The FinTech company offers an “elite” capital management platform for accredited and unaccredited investors. Its mobile app enables investors to access products that are historically locked-off due to need high volumes of capital.
Its website claims to help grow an investor’s capital through its investment philosophy, which identifies stocks known as “compounders.”
General Catalyst partner Katherine Boyle said, “For too long, millennials, like previous generations, have been encouraged to adopt a set-it-and-forget-it approach to investing.
“Yet this is the most personal finance-educated generation in history. They care deeply about both performance and transparency. Titan’s approach is to meet those demands in a way that many other major investing platforms just can’t.”
Titan has raised a total of $16m in funding.
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