Unifimoney, a digital wealth management platform for community banks and credit unions, has secured $10m investment through its seed round funding round.
Investors in the round includes Altair Capital, Shop Your Way, Global Millennial Capital, White Bay Group, Hard Yaka, Oriza Ventures, Plug and Play, and ICBA. The round also saw participation from several angel investors.
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Unifimoney’s platform provides access to trading of more than 70 cryptocurrencies, passive and active investing in a number of stocks and ETFs as well as precious metals.
The fresh capital will help the firm expand its coverage of alternative assets including collectables, sports memorabilia and non-fungible tokens (NFTs).
It also plans to launch a suite of retirement accounts with both traditional and alternative asset individual retirement accounts (IRAs).
The plans also include an investment rewards credit card, which will enable customers of financial institutions to earn points that can be redeemed for investable assets, including stocks, crypto, and gold.
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By GlobalDataFounded in 2019 by CEO Ben Soppitt and CTO Ed Cortis, Unifimoney partners with existing technology partners of the financial institutions eliminating the need for additional development work.
The platform is also integrated with core providers including Jack Henry & Associates and Q2.
Unifimoney co-founder and CEO Ben Soppitt said: “Unifimoney’s vision is to not just give Community Banks and Credit Unions parity with Big Brand Banks and Fintech’s but better more comprehensive and compelling value propositions in combination with their decades of service culture and existing banking products.”
This January, UK wealth manager M&G took a minority stake in digital investment specialist Moneyfarm as part of a strategic tie-up to offer investment services to its UK customers
