Vise, a New York-based investment management platform for advisors, announced that the company has raised $65 million in a Series C funding round.
According to the official press release, the recent funding round was led by Ribbit Capital with participation from the company’s existing investors including Sequoia Capital. Vise has raised a total of more than $125 million since 2016.
Vise platform is using Artificial Intelligence for its investment management platform to facilitate financial advisors. Founded in 2016, the company has seen significant growth since the completion of its Series B funding round in December 2020.
Commenting on the latest announcement, Samir Vasavada, Co-Founder and CEO of Vise, said: “In 2020, we successfully focused on strengthening our foundation, and now in 2021 we are focused on scaling Vise to make it an even more valuable platform for advisors and their clients. In the past year, our assets under management have grown by more than 60x and we’ve seen incredibly strong demand from advisors. Put simply, this funding will allow us to make even bigger investments faster.”
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Vise mentioned that the company’s total assets under management have reached $250 million as the total number of clients jumped by more than 100% since December 2020.
In May 2020, the fintech platform raised $14.5 million in the Series A funding round led by Sequoia Capital. Vise mentioned in the latest announcement that the company is planning to use the latest funds to hire the best available talent. In addition, Vise is planning to use fresh funds to introduce new product features in the coming months.
“Vise has the opportunity and potential to shape the future of investment management. We’re excited to partner with Samir and Runik and the entire Vise team as they work to empower financial advisors with the technology and tools they need,” Micky Malka, Managing Partner at Ribbit Capital, said.
The AI-based company has announced the expansion of its executive leadership with the appointment of Andrew Fong, former Vice President of Infrastructure Engineering at Dropbox, as Vise’s Chief Technology Officer.