View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. News
May 25, 2022

Robo advisory platform CyborgTech acquires Fortuna

Robo advisory platform CyborgTech, an affiliate of WBI, has struck a deal to buy Toronto based fintech firm Fortuna for an undisclosed sum.

Founded in 2017, Fortuna specialises in sales enablement and client communication technology for financial advisors.

The deal adds Fortuna360, a video relationship management platform for financial professionals, to CyborgTech.

The firm will also acquire Fortuna’s client acquisition platform which enables consumers to connect with financial advisors.

CyborgTech CEO Matt Schreiber said: “Over the last few years, Cy has partnered with Fortuna to digitize our marketing and sales outreach. We are excited to acquire the sales enablement and client communication platforms from Fortuna. This technology will give Cy and the advisors using the platform the tools to supercharge growth and efficiently scale their business.

Said to be an enterprise-grade robo advisory platform, CyborgTech combines human financial advice and machine optimised portfolios.

The platform features complete client profiling and benchmarking, a required rate of return calculator, loss simulator, advanced portfolio optimisation, digital onboarding and back-office service.

As part of the deal, CyborgTech will integrate Fortuna’s technology to further streamline the financial advisor’s business practice, digitise wealth management and enhance client investment outcomes.

Fortuna CEO Omer Jamal said: “About 5 years ago, the Fortuna team came together with a mission to connect advisors with high-net-worth prospects.

“Today, we’re very excited to announce this acquisition to further our original mission. Cy has built a platform to onboard this client base in a seamless manner. It’s a natural fit, we’re very excited to give end consumers direct access to investment management.”

NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. A weekly roundup of the latest news and analysis, sent every Wednesday. The industry's most comprehensive news and information delivered every month.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU

Thank you for subscribing to Private Banker International