Quantifeed completes Series B funding
Digital wealth management platform provider Quantifeed has completed a Series B-plus funding round with investment led by Franklin Templeton.
The latest funding would help the firm grow in new and existing markets – which included Australia, Hong Kong, Japan, Singapore, Taiwan and Thailand – and improve its platform capabilities.
It would also accelerate expansion into new markets, which included Malaysia and China’s greater bay area.
Alex Ypsilanti, Quantifeed chief executive and co-founder, said the backing of Franklin Templeton further strengthened the partnership they had with Legg Mason which it had acquired.
“Despite the tough economic backdrop created by COVID-19, this is a vote of confidence in our vision, product proposition and track record of delivery,” Ypsilanti said.
“The capital will allow us to service an increasing number of institutions that are transforming themselves into providers of wealthcare – the financial wellness of an individual.
“We will continue to strengthen our presence in Australia by offering digital wealth solutions to the Australian financial services sector.”
Harshendu Bindal, Franklin Templeton head of digital strategy and wealth management, said Franklin Templeton’s Series B-plus investment underscored their confidence in Quantifeed.
“Their platform powers digital wealth offerings for financial institutions across Asia,” Bindal said.
“They are an important part of the ecosystem in the region, where demand for wealth advice and retirement solutions is increasing.
“It underlines our continuous commitment to helping financial institutions digitize their client experience and advisor processes.”
AUTHOR
Chris Dastoor
Recommended for you
Following an extraordinary general meeting today, Dixon Advisory parent company E&P Financial Group’s shareholders have voted on its proposed delisting from the ASX.
While overall financial adviser numbers have dipped below 15,500 this week, Rhombus Advisory is experiencing growth and approaching 500 advisers in its ranks.
Iress’ Xplan continues to dominate the financial planning software market with a multitude of uses, according to Netwealth research, despite newer players battling for a piece of the pie.
ASIC has shared the percentage of breach reports related to financial advice in FY24, noting increased reporting by smaller AFSLs.
