Hong Kong-based B2B robo-advisory firm Quantifeed has raised an undisclosed amount, in a new funding round led by HSBC Asset Management (HSBC AM), to accelerate its growth trajectory.
The Series C funding round was joined by Daiwa PI Partners and existing shareholders, including Franklin Templeton and LUN Partners Group.
Quantifeed said that the fresh capital infusion will go towards strengthening its solutions for advisors, portfolio managers and end-customers.
The firm also plans to bolster its capabilities in portfolio design, advice and trading engines, and enable wealth management across a set of asset classes including structured products, private equity and digital assets.
In addition, the funds will also help will Quantifeed accelerate talent acquisition across the Asia-Pacific region, particularly Japan and Southeast Asia.
Quantifeed CEO and co-founder Alex Ypsilanti said: “We are thrilled to have the support of new and existing investors who believe in our business model and want to support our growth. We’re using these funds to strengthen our leadership in the automated generation and implementation of financial advice.
“Quantifeed’s mission is to help financial institutions become providers of wealthcare, a customer-centric wealth management service that makes investing easy, accessible and relatable for everyone.”
HSBC Asset Management director of Venture and Growth Investments Kara Byun said: “Quantifeed has already developed a strong suite of digital wealth management solutions backed by cutting-edge technology and are well positioned to capitalise on the growing demand for such services in Asia. The investment will give our clients and investment partners exposure to high-quality growth opportunities.”
In 2019, Saxo Markets and Quantifeed signed a memorandum of understanding to develop a digital wealth management solution.