Digital wealth management platform provider Quantifeed has completed a Series B-plus funding round with investment led by Franklin Templeton.
The latest funding would help the firm grow in new and existing markets – which included Australia, Hong Kong, Japan, Singapore, Taiwan and Thailand – and improve its platform capabilities.
It would also accelerate expansion into new markets, which included Malaysia and China’s greater bay area.
Alex Ypsilanti, Quantifeed chief executive and co-founder, said the backing of Franklin Templeton further strengthened the partnership they had with Legg Mason which it had acquired.
“Despite the tough economic backdrop created by COVID-19, this is a vote of confidence in our vision, product proposition and track record of delivery,” Ypsilanti said.
“The capital will allow us to service an increasing number of institutions that are transforming themselves into providers of wealthcare – the financial wellness of an individual.
“We will continue to strengthen our presence in Australia by offering digital wealth solutions to the Australian financial services sector.”
Harshendu Bindal, Franklin Templeton head of digital strategy and wealth management, said Franklin Templeton’s Series B-plus investment underscored their confidence in Quantifeed.
“Their platform powers digital wealth offerings for financial institutions across Asia,” Bindal said.
“They are an important part of the ecosystem in the region, where demand for wealth advice and retirement solutions is increasing.
“It underlines our continuous commitment to helping financial institutions digitize their client experience and advisor processes.”