Wealth management platform d1g1t has raked in nearly $13m (C$16m) in a new funding round to further fortify its foothold in the US wealth management market.
d1g1t intends to utilise the fresh capital to bolster the capabilities of its cloud-based enterprise digital wealth management platform and to accelerate its product development.
The firm will also use the fund to ramp up its operations and beef up its sales and marketing teams with additional resources.
Established in 2016, d1g1t supports wealth management firms, multi-family offices, RIAs and broker-dealers in North America serving HNW and UHNW investors.
It currently current has a team of over 60 employees.
d1g1t co-founder and CEO Dan Rosen said: “The company is both humbled and delighted that it continues to attract investment from some of the most prominent names in wealth management throughout North America.
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“The confidence they have placed in us validates our unique value proposition and highlights that d1g1t’s platform is fast becoming the preferred choice for firms eager to empower advisers with the most sophisticated technology offering in the industry.”
The latest round, led by returning d1g1t investor CI Financial Corp, was backed by two new institutional investors US-based fintech venture capital firm MissionOG, and National Bank of Canada’s corporate venture capital arm NAventures.
The round was also joined by the company’s existing investors Purpose Financial, Illuminate Financial as well as its angel investors.
CI Financial president and COO and a d1g1t board member Darie Urbanky remarked that the scalability of d1g1t’s platform as a strong enabler of our growth strategy in Canada and the RIA market in the US.
Urbanky added: “This latest investment in Dan and his team represents our enduring belief that the strategic alliance between our companies provides us a competitive advantage as we continue to execute our ambitious plans for growth.”
In 2018, d1g1t completed a $6.8m Series A funding round to expand its platform.