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Delphia secures $60m series in first funding round led by Multicoin Capital

The Toronto based algorithmic stock advisor has now raised a total of $80 million in venture funding.

  • Other investors in the round are Cumberland, FJ Labs, FTX Ventures, Lattice Ventures, M13, Ribbit Capital, Thomas Bailey from Road Capital and Valor Equity Partners.
  • Delphia says it offers actively managed, long-only investment strategies with no management fees and $10 investment minimums.
  • Company analyzes personal data shared by its members to help them make intelligent investment decisions.

Delphia, a Toronto based algorithmic stock advisor, announced the completion of a $60 million series A funding round led by Multicoin Capital.

Other participants in the round include Cumberland, FJ Labs, FTX Ventures, Lattice Ventures, M13, Ribbit Capital, Thomas Bailey from Road Capital and Valor Equity Partners. The series A round bumps up the total raised by Delphia to $80 million.

The first funding round will be used to launch Delphia’s native rewards token, increase the number of ways users can contribute data and expand the company’s global headcount. The investment platform aims to leverage data derived from social media, such as consumer spending insights, employment patterns and public opinion, to provide algorithmic models.

“Currently, retail investors are forced to either invest in passive robo-advisors that are designed to achieve average returns, or they can pick stocks directly through platforms like Robinhood or E-Trade — where they’re up against the best hedge funds in the world,” said Delphia’s CEO Andrew Peek said in a press release. “Delphia gives investors a third choice in the form of a mobile-delivered algo-advisor that leverages machine learning models designed by top hedge fund professionals, expanding access to elite financial products for retail investors.”