Tifin, an umbrella group operating a host of AI-powered fintech businesses in the asset and wealth management industry, has hit a $842 million valuation of the back of a $109 million Series D funding round.
Franklin Templeton and Motive Partners joined previous investors in the round for Tifin, which was founded in 2018 as a fintech studio and evolved into an operating business in 2020.
The group is made up of focused divisions: Magnifi, a search-powered marketplace for investments; Financial Answers, a consumer platform built on financial media; Tifin Wealth, a collection of personalisation components to advisors, wealth managers and other intermediaries; and Distill, an AI-powered analytics and intelligence platform to drive digital distribution for asset managers and wealth enterprises.
The latest funding will be used to grow Magnifi’s consumer platform, push Distill’s expansion with asset and wealth enterprises, and build up the business outside the US.
Vinay Nair, CEO, Tifin, says: "Hyper-personalised experiences are critical for the future of investment management as individuals demand more engaging and digitally intuitive approaches. At Tifin, we are building algorithms to enable this within various wealth and investment journeys, while using natural language processing and conversational AI to simplify the user experience.
"At the same time, we are enabling digital distribution for our asset management clients using targeted, data-driven and end-to-end automation."