MDOTM, which designs AI-powered investment strategies, has closed its Series B funding round on €6.2m.
The round was supported by institutional investors, private investors and several private individuals. Some of the angel backers include Rothschild Italy chairman Federico Ghizzoni, PIMCO managing director Lorenzo Pagani and Natixis managing director Alberto Zaffignani.
In line with the investment, Zaffignani has joined MDOTM as a non-executive board member.
With the fresh funds, the FinTech company hopes to continue its international expansion efforts, double the size of its London and Milan teams, and open an office in the US.
Founded in 2015, MDOTM leverages AI to improve investment decisions of asset owners and asset managers. It currently has €750m in assets under advisory, with its clients including banks, asset and wealth managers, pension funds, insurance companies and family offices.
MDOTM CEO and co-founder Tommaso Migliore said, “We founded MDOTM to bring the benefits of Artificial Intelligence to asset managers and asset owners. AI is revolutionising how investment decisions are made, and the future of asset management will be shaped by collaboration between FinTechs and financial institutions.
“With the support of the many high-profile and experienced investors who participated in our latest fundraising, MDOTM is in a very good position to lead the sector, expand internationally and continue its rapid growth.”
The company previously raised €2m in its Series A funding round back in 2018.
Copyright © 2021 FinTech Global