Ethic, a tech-driven asset management firm, has secured a funding of $50m in its Series C funding round led by Jordan Park Group.

The round also saw the participation of UBS’ venture and innovation arm, UBS Next.

The company’s existing investors such as Oak HC/FT, Nyca Partners, Sound Ventures, Urban Innovation Fund and Kapor Capital also joined the funding round.

Ethic intends to use the latest investment to drive its growth, which involves enhancing its reach in new areas and develop fresh products.

The firm also seeks to speed up the transition of its operations into sustainable investing with the new funding.

The new investment comes as the firm recorded significant inflows in the first half of this year amid challenging market conditions and outflows from several environmental, social and governance (ESG) mutual and exchange-traded funds.

Ethic co-founder and CEO Doug Scott said: “Our personalised approach, which allows people to create portfolios that reflect their own unique definitions of sustainability, has helped facilitate our rapid growth with intermediaries and their clients.

“With this latest round of funding, closed this summer, we’re excited to continue delivering innovative solutions that bring us closer to our vision of a world in which all investing is sustainable investing.”

Ethic helps the financial intermediaries with personalised investment tools and custom equity portfolios that can be customised to the clients’ sustainability, financial, charitable giving and tax management requirements.

Using the firm’s technology and educational solutions, financial intermediaries can offer transparent impact reporting and address sustainability issues, respectively.

In March last year, Ethic received $29m in Series B funding round led by Oak HC/FT.