Israeli FinTech startup Futora has secured $6m in funding to fund product development and build out its sales processes in Europe and the US.
The round was led by TAU Ventures – the investment fund of Tel Aviv University – and North First Ventures, Sergio Fogel and J-Ventures.
Launched in 2020, Futora has developed an AI-based system that allows banks and financial institutions to create investment products that are personally customised for each client.
The platform is also home to a marketplace of retail banks and large investment banks trading on the hedging instruments of the financial products.
According to Futora, its system is now being piloted in a number of banks in Israel and is also being tested abroad.
Futora claims it intends to use the funding to push forward product development and build out its sales processes in Europe and the US.
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