OpenInvest, a digital investment advisor for socially responsible investing, has received $10.4m in its Series A funding led by QED Investors.
Other contributors to the round included Andreessen Horowitz, SYSTEMIQ, Wireframe Ventures, Yard Ventures and Abstract Ventures.
Founded in 2015, OpenInvest offers a digital platform for a personalised investment portfolio for individuals and institutions. The company supports both environmental, social, and governance investing, or investing with the intention to generate a measurable, beneficial social or environmental impact.
Investors can automatically create a portfolio which is in line with their ethics. Areas of ethical investments include divestment from fossil fuels producers, deforestation, the prison industrial complex or weapons; supporting gender equality, LGBTQ rights, refugees and low-carbon leaders, among many others.
This equity injection will enable the company to accelerate its growth and further its technological innovation. Recently, the company expanded its customer offering from retail investors to advisors and institutions, such as family offices and foundations.
QED partner Greg Mazanec said, “Socially responsible investing is one of the fastest-growing segments of equities management.
“Early on, OpenInvest recognized the need for an efficient way to personalize investments around values and created a first-of-its-kind investment technology platform that filled this void. OpenInvest is positioned to become the next tech-driven financial powerhouse, and we’re excited to support the company’s rapid growth.”
Earlier in the year, FinTech Global reported QED was looking to raise up to $150m for its fifth venture capital fund. The firm has made a number of FinTech investments over the years, with it recently talking part in the $55m Series C round of Brazilian lending platform Creditas.
Copyright ? 2018 FinTech Global
