AI-powered investment management platform Vise has raised $65m in a Series C funding round led by Ribbit Capital.
The round, which was joined by existing investors including Sequoia Capital, brings the total capital raised till date to over $125m.
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The company said its assets have more than quadrupled to over $250m since its Series B funding round in December 2020.
During the period, it also completed the integration with major custodians and rolled out several new product features for customers.
The new financing round will accelerate Vise’s investments in its platform. The company plans to use the proceeds from the round to hire talent and support the rollout of new product features.
A key focus area will be continuing to scale the engineering function led by CTO Fong, said Vise.
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By GlobalDataVise co-founder and CEO Samir Vasavada said: “In 2020, we successfully focused on strengthening our foundation, and now in 2021 we are focused on scaling Vise to make it an even more valuable platform for advisors and their clients.”
Founded by Vasavada and Runik Mehrotra in 2016, Vise provides advisers with tools and technology to create personalised portfolios. The platform also fully automates the investment management process and offers deep insights on investment decisions.
Sequoia partner and Vise board member Shaun Maguire attributed Vise’s rapid growth to the progress the team has made over the past year in advancing its technology and building a truly world-class team.
Ribbit Capital managing partner Micky Malka remarked that Vise has the opportunity and potential to shape the future of investment management.
Malka added: “We’re excited to partner with Samir and Runik and the entire Vise team as they work to empower financial advisors with the technology and tools they need.”
