London-based funding platform Lightyear has closed a $23m (£17m) Collection B spherical because it confirms it has reached $1bn in buyer belongings.
Based by Martin Sokk and Mihkel Aamer, two early workers of cross-border fee firm Clever, Lightyear is a platform providing entry to investments akin to shares, ETFs and cash market funds.
It additionally claims to have enhanced performance powered by its bespoke ‘Lightyear AI’ expertise.
The group first launched in 2020, secured a £6m funding in 2021 and now, as of the newest spherical, has gone on to lift a complete of £43m.
It operates in 25 international locations – and 10 languages – and has hit $1bn in belongings beneath administration on its platform.
“5 years in the past, the thought of constructing a really European funding platform felt nearly unattainable. Fragmented laws, totally different tax methods, languages, currencies… There needed to be a greater approach,” stated Sokk, who serves as the corporate’s chief government officer.
“Higher investing is now lightyears nearer. However there’s nonetheless rather more to do, and we’re excited to proceed our stellar trajectory.”
The funding spherical was led by NordicNinja, a Finnish VC that has backed various main European tech companies, together with Bolt, Voi and Starship Applied sciences.
Rainer Sternfeld, a associate at Nordic Ninja, commented: “We’re excited to guide Lightyear’s Collection B as they proceed to make waves throughout Europe. Our aim as traders is to seek out firms fixing actual issues with next-level options.
“We imagine that AI will play a robust position in each facet of our future, and the investing sector is just not resistant to that. Martin and Mihkel have an unparalleled imaginative and prescient for the way it will form the way forward for retail investing in Europe, and we couldn’t wait to affix in on that.”
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