Berlin-based NaroIQ, a FundTech company focused on digitising ETF and fund creation, has secured $6.5m in seed financing to accelerate the growth of its modular infrastructure platform for asset managers and fund initiators.
The round was led by Magnetic Capital and included participation from Redstone, 14Peaks Capital and Angel Invest. Existing investors General Catalyst and Discovery Ventures also increased their investment in the company.
NaroIQ enables capital management companies and digital platforms to launch and manage ETFs and funds efficiently, by offering a plug-and-play infrastructure that streamlines fund issuance and administration. The firm positions itself at the forefront of the transition from mutual funds to ETFs, aiming to make fund creation more accessible and cost-effective.
The firm is responding to mounting pressure in the asset management industry, where rising administrative costs and margin compression have created barriers for smaller players. NaroIQ believes its modular and technology-first approach is essential to preserving a diverse and competitive fund ecosystem, countering the growing dominance of a few major providers.
According to NaroIQ, its index engine allows clients to create their own indices within seconds. These can then be used to support a range of financial activities, from investment strategy tracking to ETF structuring.
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