New York-based FinTech business Active Allocator has hit an $8m valuation through an early-stage equity financing round.
The business aims to bring institutional quality asset allocation and portfolio construction methods to financial advisors serving mainstream investors.
Details about the investors in the round were not disclosed. Active said it planned to use the capital for product development.
Active’s partners include former AR Capital, RCS Capital and Citi Alternative Investments exec Sameer Jain, ex-Avata, IBM and Oracle systems and tech consulting expert Helen Zhai, and experienced financial services and real estate operator and advisor Brian Jones.