The TIFIN Group, a Fintech Platform for Wealth Management, Finalizes $22.3M Round from JPMorgan, Morningstar, Broadridge

The TIFIN GROUP, a Fintech platform with 10 active operating firms for the asset and wealth management sector, revealed on Tuesday (April 20, 2021) that it finalized a $22.3 million Series B round. The Group also announced the addition of three strategic investors to its capital partner group.

According to a release, these investors include J.P. Morgan Asset Management, Morningstar and Broadridge and join other existing individual investors from the wealth and asset management industry.

As explained in the announcement, TIFIN‘s Fintech products assist with bridging the gap between retail investors, financial advisors, and asset managers. The release also mentioned that the four pillars of TIFIN’s innovation capabilities are “centered around proven science, investment management, software, and algo technology.”

This combination of ‘fin’ and ‘tech’ is used to “seamlessly allow greater asset flow for asset managers and higher organic growth for financial advisors while delivering better outcomes and experiences for investors,” the announcement added.

As stated in the release:

“TIFIN was founded in the third quarter of 2018 as a fintech studio and evolved into an operating business in Q4 2020. This new capital, alongside existing capital from a prior capital raise in Q4 2020, will support TIFIN’s continued rapid growth, additional acquisitions, as well as working with the strategic partners to help accelerate their fintech innovation initiatives.”

George Gatch, CEO, J.P. Morgan Asset Management, said that TIFIN’s advanced technology and data-driven tools have “tremendous potential to shape the future of the asset management and wealth management industries.” He added that they’re “pleased to invest in the company and look forward to supporting fintech innovation.”

Kunal Kapoor, CEO at Morningstar, noted:

“TIFIN is building a fintech platform that enables wealth and asset managers to meet the rising demand from investors for truly personalized experiences. Vinay shares Morningstar’s investor-first mindset powered by data and thoughtful design, and his leadership gives us confidence in the growth opportunities ahead.” 

Chris Perry, President of Broadridge, remarked:

“Broadridge’s strategic investment with THE TIFIN GROUP is the latest example of our commitment to enabling financial technology innovation across the wealth and asset management industry, particularly as clients’ look to transform themselves through digitization, data and analytics and the adoption of next-gen technology. As a global fintech leader, we continue to invest in capabilities across the wealth eco-system with a focus on expanding capabilities in the front, middle and back-office to address clients’ growth opportunities and the ever-evolving needs of wealth and asset management firms.”

Dr. Vinay Nair, Founder, Chairman and CEO of The TIFIN Group, stated:

“We are delighted to welcome J.P. Morgan, Morningstar and Broadridge as investors and partners. We are equally grateful for their belief and support in the future we envision. These are world-class firms with a keen understanding of the issues investors face, an appreciation of the potential fintech has to address these issues and a desire to be part of the change. We look forward to working with them to further our core mission at TIFIN and make investing a more meaningful and relevant component of every individual’s financial well-being.”

THE TIFIN GROUP aims to shape the future of investor experience with “a platform of intelligent products that recognize the uniqueness of each investor.” Powered by an ecosystem of leaders in finance and technology, TIFIN aims to develop “next-gen products by combining investment intelligence, data science, and technology to make investing a more powerful driver of financial wellbeing.”

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