New York-based fintech platform Vise has announced that it has secured around $65 million in its latest round of funding. The investment management platform, known for providing services to advisors, revealed that alongside already existing investors such as Sequoia Capital, the funding round was largely dominated by Ribbit Capital.
Micky Malka, the Managing Partner at Ribbit Capital, said:
Vise has the opportunity and potential to shape the future of investment management. 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,”
The platform in question uses artificial intelligence for its investment management division to facilitate its financial advisor clients. Since its inception around 5 years ago, Vise has experienced substantial growth, particularly since the end of December 2020 which saw the finalisation of its Series B funding round.
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. In the past year, our assets under management have grown by more than 60x and we’ve seen incredibly strong demand from advisors. Put simply, this funding will allow us to make even bigger investments faster.
The company is now thought to have raised a total of around $125 million since it was first established back in 2016. Vise also suggested that under management, the company’s total assets have now reached around $250 million, following a client onboarding increase of over 100% since December last year. Other significant developments for the company include the completion of integration with some major custodians, as well as the establishment of several new product features for its customers.
The additional funding now gained will help to speed up Vise’s investments in the platform, including the hiring of high-end talent and the rollout of even more new product features. Vise has already made attempts at enhancing its executive leadership with recent hires including Andrew Fong as Vise’s new Chief Technology Officer and Dave Twardowski as its Vice President and Head of Investment Strategy.
Experienced writer and journalist, working in the global online trading sector, Steffy is the Editor of LeapRate. She has previous experience as a copywriter and has been with the company since January 2020. Steffy has a British and American Studies degree from St. Kliment Ochridski University in Sofia.