Tifin will use the funding to support its growth plans with a special focus on Magnifi’s consumer platform, Distill’s expansion with asset and wealth enterprises, the company’s expansion outside the US and additional fintech innovation initiatives
The latest funding round takes Tifin’s valuation to $842m. (Credit: Ralphs_Fotos from Pixabay)
Tifin, a fintech platform that uses AI and investment-driven personalisation to provide personalised investor experiences, has secured $109m in a Series D financing round.
The latest funding round takes the company’s valuation to $842m.
The fintech platform stated that the increase in valuation from its Series B ($184m) and Series C ($447m) over the past year reflects the growth in its product offerings, users and revenues.
Franklin Resources, an investment manager operating under Franklin Templeton, and investment firm Motive Partners have joined the funding round as strategic investors.
Hamilton Lane, a private markets investment manager, joined as an investor in the Series C round in October last year.
J.P. Morgan Asset Management, Morningstar, and Broadridge joined as an investor in the company’s Series B round in April last year.
As part of the transaction, Motive Partners founder and managing partner Rob Heyvaert will join the Tifin’s board.
Tifin operates divisions that include 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 for advisors, wealth managers and other intermediaries; and Distill, an AI-powered analytics and intelligence platform to drive digital distribution for asset managers and wealth firms.
The fintech platform will use the funding to support its growth plans with a special focus on Magnifi’s consumer platform, Distill’s expansion with asset and wealth enterprises, the company’s expansion outside the US and additional fintech innovation initiatives.
Tifin founder and CEO Dr Vinay Nair said: “Hyper-personalised 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 recognised expertise and connectivity in our space. We are also grateful for the support from existing investors including Hamilton Lane and JP Morgan.”