OpenInvest, a U.S.-based investing platform, announced on Thursday it secured $10.5 million through its Series A1 funding round, which was led by QED Investors with participation from SystemIQ, Resolute Investment Managers,and ABN AMRO Ventures. The latest found of funding comes less than two years after OpenInvest raised $10.4 million through its Series A round, which was also led by QED Investors.
As previously reported, OpenInvest reported it has digitized the management of custom managed accounts. Clients ranging from only $100 to tens of millions of dollars in assets – and their advisors – use the OpenInvest platform to instantly launch portfolios that reflect particular environmental and social concerns, while tightly tracking any market index or specified investing strategy. Thereafter, they have access to cutting-edge features such as real-time impact reporting, voting in shareholder resolutions with a swipe, full transparency, tax-loss harvesting, and other investing features.
Speaking about the latest investment, Josh Levin, Chief Strategy Officer and Co-founder at OpenInvest, stated:
“Our new round of funding helps us expand engineering capacity to meet rapidly growing demand across wealth and asset management platforms.”
OpenInvest then concluded the investment’s funds bring its total funding since launching in 2015 to $23.8 million.