Arkera, a FinTech startup which has built an AI-powered platform to disrupt personal investing, has received a £4m cash injection.
The startup’s round was led by XTX Markets and Alan Howard and drew additional participation from DOCOMO Digital, Henry Ritchotte and other undisclosed backers.
Arkera says it will use the funding to continue developing its machine learning platform and to expand across the globe.
Set up in 2015, the startup seeks to help financial institutions increase their revenues by educating their clients on making investment decision. The company says it leverages AI to connect real world events and news to investment products.
Vinit Sahni, co-CEO Arkera, commented on the raise: “Arkera brings together an expert financial content team with AI to offer relevant and contextualised content matched with investment products.
“There is a niche in the market for artificial intelligence and machine learning to empower clients to make exciting investment decisions.
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“This funding round will allow us to scale the technology behind the Arkera platform and expand into new geographies and customer segments.”
Hiroyuki Sato, CEO of DOCOMO Digital, explained why his firm had decided to back the business.
“We are very focused on collaborating with businesses developing artificial intelligence and machine learning platforms for the DOCOMO Digital portfolio targeted at big data driven digital marketing services.
“This investment underscores our belief in the team and the strategic opportunity for value creation through machine learning in the investment space. We look forward to partnering with Arkera for their next stage of innovation and expansion.”
Arkera was co-founded by Sahni, Nav Gupta and Krishan Patel.
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