Titan has raised $58m in its Series B fundraising to accelerate the development of its investment platform and suite of investment products, alongside expanding its core functional teams.

The round was led by Andreessen Horowitz (a16z) and joined by the company’s existing investors including General Catalyst, BoxGroup, and Ashton Kutcher’s Sound Ventures.

To the date, the firm has raised $75m.

Titan, which seeks to rival giants like Fidelity and BlackRock, claims to be the first DTC, mobile-first investment platform for everyday investors.

The platform, whose initial strategies are predominantly in stocks, is looking to expand into other asset classes, and foray into new territories.

Titan co-founder and co-CEO Joe Percoco said: “There’s been a reawakening of active investing. But traditional investment management vehicles remain the tech-equivalents of VHS tapes. The industry needs a new operating system.”

Having witnessed 500% growth in the last 12 months, Titan is expecting to cross its first billion in assets under management later this year.

The firm is also preparing to rollout a cryptocurrency offering, which is touted to be the first and only actively managed portfolio of cryptocurrency assets available in the US investment space.

Titan’s strategy eyes to invest in a concentrated basket of crypto assets that can outperform over a long-term time period.

This offering will be actively managed by the firm’s in-house crypto investing team.

Titan co-founder and co-CEO Clay Gardner said: “Technology has sent shockwaves throughout many consumer finance categories, but investment management remains stubbornly behind. The absence of a modern asset management platform is a significant void. The long-term financial health of new generations remains at risk without it.”

a16z general partner Anish Acharya said: “Titan is leading the way as investing gets re-invented for the millennial and Gen Z generations. Active investing is back, and audiences want transparency into investing decisions and the opportunity to learn.

“Since first meeting the Titan team last year, we’ve consistently been impressed by their product vision for the category, their best in class execution, and their highly ambitious team.”