London-based investment platform Lightyear has closed a $23m (£17m) Series B round as it confirms it has reached $1bn in customer assets.
Founded by Martin Sokk and Mihkel Aamer, two early employees of cross-border payment company Wise, Lightyear is a platform offering access to investments such as stocks, ETFs and money market funds.
It also claims to have enhanced functionality powered by its bespoke ‘Lightyear AI’ technology.
The group first launched in 2020, secured a £6m investment in 2021 and now, as of the latest round, has gone on to raise a total of £43m.
It operates in 25 countries – and 10 languages – and has hit $1bn in assets under management on its platform.
“Five years ago, the idea of building a truly European investment platform felt almost impossible. Fragmented regulations, different tax systems, languages, currencies… There had to be a better way,” said Sokk, who serves as the company’s chief executive officer.
“Better investing is now lightyears closer. But there’s still much more to do, and we’re excited to continue our stellar trajectory.”
The funding round was led by NordicNinja, a Finnish VC that has backed a number of major European tech businesses, including Bolt, Voi and Starship Technologies.
Rainer Sternfeld, a partner at Nordic Ninja, commented: “We’re excited to lead Lightyear’s Series B as they continue to make waves across Europe. Our goal as investors is to find companies solving real problems with next-level solutions.
“We believe that AI will play a powerful role in every aspect of our future, and the investing sector is not immune to that. Martin and Mihkel have an unparalleled vision for how it will shape the future of retail investing in Europe, and we couldn’t wait to join in on that.”