(Finextra) - Tifin, an umbrella group operating a host of AI-powered fintech businesses in the asset and wealth management industry, has hit a $447 million valuation off the back of a $47 million Series C funding round joined by Hamilton Lane and existing investors JP Morgan Asset Management, Morningstar and Broadridge.
The valuation is nearly five times higher than Tifin's Series A which was completed towards the end of 2020. A $22.3 million Series B round joined by JP Morgan Asset Management, Morningstar and Broadridge was completed in April this year.
The firm was founded in 2018 as a fintech studio and evolved into an operating business last year with focused divisions: Magnifi, a search-powered marketplace for investments; Financial Answers, a consumer platform built on financial media; and Tifin’s WealthTech platform.
All of the products are designed to "help bridge the gap" between retail investors, financial advisors, and asset managers and focus on "proven science, investment management, software, and algo technology".
Vinay Nair, CEO, Tifin, says: "Our growth to date is a sign of the potential the combination of financial expertise, AI and software technology has to address issues individuals face in managing their wealth to achieve financial freedom."
29 October 2021
