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Wealth management platform Finary secures £1.9M funding; plans expansion in UK

Finary, a Paris-based wealth management platform, has raised €2.2 million (approx £1.9 million) in a seed round led by Speedinvest. 

Other investors including Y Combinator, Kima Ventures, and angel investors like Raphaël Vullierme (co-founder at Luko), also participated. 

The company is also planning to launch iOS and Android apps as well. The fintech company will also expand its team and growing presence across Europe and in the US. 

Track assets in real-time

Founded in 2020 by Mounir Laggoune and Julien Blancher, Finary allows investors to track all of their assets in real-time and maximize their return on investments.

The fintech company connects more than 10,000 banks and investment platforms in Europe and the United States across real estate, precious metals, and more than 5,500 cryptocurrencies. 

Tailor-made management 

The French company also offers a tailor-made asset management program including, real-time performance analysis, the calculation of hidden costs, and the automatic identification of new opportunities. 

According to the company, it tracks more than €2 billion of assets for thousands of users just three months after launch. While the platform is free, users can become Finary Plus members and gain access to the full range of features. 

Mounir Laggoune, CEO of Finary, said: “Our ambition is to become the global reference for investment tracking and optimisation. Until now, no innovative player has come to dust off the wealth management sector whose methods and tools have remained unchanged for a long time. Many investors still rely on spreadsheets to track their investments, severely limiting their potential. Finary is the first tailor-made monitoring and optimisation platform and is designed as a digital strongbox to perfectly meet the expectations of modern investors.” 

Olga Shikhantsova, Principal at Speedinvest, added: “The last decade has been a turning point for the private wealth world: Investing has become much more accessible (anyone can buy stocks or ETFs), new asset classes have emerged (crypto), and a new generation has built diverse personal portfolios. Meanwhile, the overall wealth management space failed to keep pace and has offered nothing new to private investors. Finary has accepted the challenge and is here to revolutionise private wealth management. We are excited to join the team’s journey and support their growth in France, Europe, and beyond.”

The post Wealth management platform Finary secures £1.9M funding; plans expansion in UK appeared first on UKTN (UK Tech News).

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