TIFIN, which leverages AI to offer personalised investor experiences, has closed its Series D on $109m.
The round was backed by Franklin Templeton investment manager Franklin Resources and Motive Partners, an investment firm focused on technology.
This investment brings TIFIN’s valuation to $842m, nearly double its previously valuation of $447m following its $47m Series C round.
Funds from the round will be used to expand outside of the US.
The company uses AI to drive personalisation for wealth management and digital distribution for investment managers.
Founded in 2018, TIFIN operates across multiple products, including Magnifi, a search-powered marketplace for investments; Financial Answers, a demand and data generation platform for advice and investments; TIFIN Wealth, a collection of personalisation components to advisors, wealth managers and other intermediaries; and Distill, an AI-powered analytics and intelligence platform to drive digital distribution for asset managers and wealth enterprises.
In line with the deal, Motive Partners founder and managing partner Rob Heyvaert will join the TIFIN board of directors.
TIFIN founder and CEO Dr. Vinay Nair said, “Hyper-personalized experiences are critical for the future of investment management as individuals demand more engaging and digitally intuitive approaches. At TIFIN, we are building algorithms to enable this within various wealth and investment journeys, while using natural language processing and conversational AI to simplify the user experience.
“At the same time, we are enabling digital distribution for our asset management clients using targeted, data-driven and end-to-end automation. We are delighted to have Franklin Resources and Motive Partners join us on this journey, as well as Rob joining our Board. We look forward to working with them and learning from their globally recognized expertise and connectivity in our space. We are also grateful for the support from existing investors including Hamilton Lane and JP Morgan.”
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