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Korean robo-adviser Fount rakes in $33.4m to bolster AI-based platform

By Verdict Staff

Korean robo-adviser Fount has raised a $33.4m in a Series C round to support the further development of its machine learning-based platform and the hiring of new resources.

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2022: So far In Venture Capital

Global investment in 2022 has been majorly dominated by North America, Europe, and Asia Pacific, whereas the Middle East, and South and Central America have recorded low investments comparatively. In light of this, Europe and North America have been identified as the major destinations for Private Equity and Venture Capital (PE/VC) investments.   GlobalData’s whitepaper analyzes which sectors PE/VC firms have been investing in, looking at Technology, Media, and Telecom, with these sectors recording $356 billion and a deal volume of over 10,000 deals in 2022. Healthcare, Financial Services, Business & Consumer Services, and Construction sectors have also seen high investment activity by PE/VC firms, recording a deal value of over $70 billion each.   But what can this mean for you?   Understand how the Deals Database on GlobalData Explorer can be leveraged to:  
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  • Identify the top investors already active in any sector-Geography combinations
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  • Understand what is driving the PE/VC fundraising (Deal Rationale)
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by GlobalData
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The financing round was co-led by Hana Financial Investment and Nice Investment and joined by returning investors including Smilegate Investment, and Korea Development Bank.

The round brings the firm’s total raised capital to $58.5m.

Founded by Youngbeen Kim in 2015, Fount caters to B2B clients in South Korea. Its customer base is said to include Hana Financial Investment, Samsung Life Insurance, Hundai Motor Securities and MetLife among others.

As of March 2021, Fount managed around $730m in assets. Earlier this year, the number of registered users on the Fount platform exceeded 220,000.

The company plans to invest an additional $85m for the development of technology in the next years.

Latest developments in the robo-advisory space

In July this year, Canadian robo-adviser Wealthsimple raised $610m (C$750m) in a funding round led by Meritech and Greylock who were joined by star power.

In April, Singaporean robo-adviser StashAway, which offers intelligent asset allocation with global ETFs for both retail and professional investors, expanded its presence to Hong Kong.

Earlier this year, American robo-adviser Betterment acquired Wealthsimple’s US investment advisory book of business.

Last year, UOB Asset Management partnered with Singtel to offer personalised robo-advisory investment solutions to individual investors via Singtel’s mobile wallet Dash.

Free Report
img

2022: So far In Venture Capital

Global investment in 2022 has been majorly dominated by North America, Europe, and Asia Pacific, whereas the Middle East, and South and Central America have recorded low investments comparatively. In light of this, Europe and North America have been identified as the major destinations for Private Equity and Venture Capital (PE/VC) investments.   GlobalData’s whitepaper analyzes which sectors PE/VC firms have been investing in, looking at Technology, Media, and Telecom, with these sectors recording $356 billion and a deal volume of over 10,000 deals in 2022. Healthcare, Financial Services, Business & Consumer Services, and Construction sectors have also seen high investment activity by PE/VC firms, recording a deal value of over $70 billion each.   But what can this mean for you?   Understand how the Deals Database on GlobalData Explorer can be leveraged to:  
  • Track the Aggregate Investment Volumes in PE/VC-Stage firms across geographies and sectors, in addition to viewing the specific deals that drove these volumes
  • Identify the top investors already active in any sector-Geography combinations
  • Assess the Performance of Financial and Legal Advisors, supporting the Dealmaking in any segment of choice (Customizable League tables)
  • Understand what is driving the PE/VC fundraising (Deal Rationale)
  Consult our full report here and optimize your business strategy.
by GlobalData
Enter your details here to receive your free Report.

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