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October 29, 2021

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

By Verdict Staff

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.

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Analyze opportunies within the wealth management market in APAC

GlobalData’s ‘Asia-Pacific Wealth Management: Market Sizing and Opportunities to 2026’ report provides a comprehensive overview of the Asia-Pacific (APAC) wealth management market.
  • The report analyzes the APAC wealth and retail savings and investments markets. This includes affluent market size, both by number of individuals and the value of their liquid assets.
  • The affluent population grew by 5.3% in 2021 and is expected to grow at an AAGR of 4.8% between 2022 and 2026.
  • The value of liquid assets held by the affluent segment surged by 8.4% in 2021, backed by economic recovery. HNW individuals’ financial wealth grew by 12%, while mass affluent individuals’ wealth grew by 6.0%.
  • The report provides an analysis of factors driving liquid asset growth. It is also split into asset classes - equities, mutual funds, deposits, and bonds.
  • The affluent population are more risk-tolerant and invest a significant proportion of their investments in risky assets such as equities, compared to emerging affluent and mass market individuals.
The report also provides data and insights on the size of offshore holding of HNW investors in the APAC region.
by GlobalData
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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.

Free Report
img

Analyze opportunies within the wealth management market in APAC

GlobalData’s ‘Asia-Pacific Wealth Management: Market Sizing and Opportunities to 2026’ report provides a comprehensive overview of the Asia-Pacific (APAC) wealth management market.
  • The report analyzes the APAC wealth and retail savings and investments markets. This includes affluent market size, both by number of individuals and the value of their liquid assets.
  • The affluent population grew by 5.3% in 2021 and is expected to grow at an AAGR of 4.8% between 2022 and 2026.
  • The value of liquid assets held by the affluent segment surged by 8.4% in 2021, backed by economic recovery. HNW individuals’ financial wealth grew by 12%, while mass affluent individuals’ wealth grew by 6.0%.
  • The report provides an analysis of factors driving liquid asset growth. It is also split into asset classes - equities, mutual funds, deposits, and bonds.
  • The affluent population are more risk-tolerant and invest a significant proportion of their investments in risky assets such as equities, compared to emerging affluent and mass market individuals.
The report also provides data and insights on the size of offshore holding of HNW investors in the APAC region.
by GlobalData
Enter your details here to receive your free Report.

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