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October 29, 2021

Wealthtech firm Tifin rakes in $47m at $447m valuation

By Johney Amala

Tifin, an AI-driven fintech platform for wealth and asset management, has raised $47m in a Series C funding round at a valuation of approximately $447m.

The financing round comes on the close heels of the firm’s $22.3m series B funding round in April and follows Series A financing, which took place at the end of 2020.

Existing series B investors JP Morgan Asset Management, Morningstar, and Broadridge participated in the round alongside new strategic investor Hamilton Lane.

Tifin said it will combine the new capital with existing funds to drive its continued growth and additional acquisitions.

The firm is also working with strategic partners to help accelerate their fintech innovation initiatives.

Founded in 2018, TIFIN utilises data and investment driven intelligence to customise wealth management, and digital distribution for investment managers.

Last year, the firm sold its tax-aware platform 55-ip to JPMorgan to bolster the advisors’ ability to mobilise model portfolios through smart tax transition plans.

TIFIN founder and CEO Vinay Nair said: “We are delighted to complete our Series C with strong support from our existing investors and welcome our new strategic investment partner, Hamilton Lane.

“Our growth to date is a sign of the potential the combination of financial expertise, AI and software technology has to address issues individuals face in managing their wealth to achieve financial freedom.”

As part of the investment, Tifin will partner with Hamilton Lane to explore including alternatives to its spectrum of WealthTech capabilities.

Hamilton Lane vice chairman and head of Strategic Initiatives Erik Hirsch commented: “We are thrilled to be the newest strategic investor into TIFIN, whose platforms are shaping the future of the individual investor experience.”

In January this year, Hamilton Lane agreed to acquire Denver-based boutique alternative asset management firm 361 Capital.

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