Fintech platform Tifin lands $47m Series C

Tifin, a fintech platform, has raised $47 million in Series C funding.

Tifin, a fintech platform, has raised $47 million in Series C funding. The backers include Hamilton Lane, J.P. Morgan Asset Management, Morningstar and Broadridge.

PRESS RELEASE

BOULDER & NEW YORK, OCTOBER 28, 2021 — TIFIN, a fintech platform using AI for wealth and asset management, today announced the successful closing of $47 million in Series C funding. TIFIN uses data and investment driven intelligence to drive personalization for wealth management, and digital distribution for investment managers. The firm closes its Series C round at a valuation that is nearly five times higher than its Series A which was completed towards the end of 2020. TIFIN’s mission is to make investing a more meaningful driver of financial well-being, by shaping the future of the investor experience. Through its focused divisions, Magnifi, a search-powered marketplace for investments; Financial Answers, a consumer platform built on financial media; and TIFIN’s WealthTech platform’s many capabilities, the firm delivers personalization to the investment management industry.

Hamilton Lane (NASDAQ: HLNE), a leading private markets investment manager, entered the capital round as a new strategic investor. They join J.P. Morgan Asset Management, Morningstar, and Broadridge in the Series C round, after their initial investment in TIFIN’s Series B round. TIFIN works closely with its strategic investors to facilitate innovation in the industry, and will partner with Hamilton Lane to explore adding alternatives to its suite of WealthTech capabilities.

Erik Hirsch, Vice Chairman and Head of Strategic Initiatives at Hamilton Lane, commented: “We are thrilled to be the newest strategic investor into TIFIN, whose platforms are shaping the future of the individual investor experience. We’re committed to enabling access to our asset class for a broader group of investors and believe in the power of data and technology to drive our industry forward – so we welcomed the opportunity to partner with a leader in technologically-driven wealth management solutions.”

Founded in late 2018 by Vinay Nair, PhD, a former Wharton Professor and successful entrepreneur, TIFIN was created to help make investing a powerful driver of financial well-being by eliminating frictions investors face. The firm’s executive committee consists of Jack Swift, Anil Arora, and Sharon French in addition to Dr. Nair. All four members bring a diverse set of perspectives and proven experience to TIFIN. In 2020, the firm sold their tax-aware platform 55-ip to JPMorgan Asset Management to further their advisors’ ability to mobilize model portfolios through smart tax transition plans.

“We are delighted to complete our Series C with strong support from our existing investors and welcome our new strategic investment partner, Hamilton Lane. We value their

experience and expertise in the private markets as we explore ways to personalize and democratize access to this asset class to deliver better wealth outcomes for individuals,” said Vinay Nair, Founder and CEO of TIFIN. “Our growth to date is a sign of the potential the combination of financial expertise, AI and software technology has to address issues individuals face in managing their wealth to achieve financial freedom. We look forward to accelerating further toward our core mission at TIFIN and make investing a more meaningful and relevant component of every individual’s financial well-being.”

The growth at TIFIN highlights the industry’s need to deliver more value to clients through data, AI and technology innovation. The momentum in capital raising is validating for TIFIN’s thesis that personalization and data are critical for the future of investment management, as investor demand leans toward more engaging and digitally intuitive approaches.

The firm’s technology bridges the gap between retail investors, financial advisors, and asset managers. The divisions of TIFIN’s innovation capabilities are centered around proven science, investment management, software, and algo technology. This combination of Technology In Finance is used to seamlessly allow for greater asset flow while seeking to deliver better experiences and outcomes for investors.

This additional capital, alongside existing funds from prior capital raises will support TIFIN’s continued growth, additional acquisitions, as well as working with the strategic partners to help accelerate their fintech innovation initiatives.

About TIFIN
TIFIN is shaping the future of investor experience with AI-based technology that recognizes the uniqueness of each investor. TIFIN, which stands for Technology In Finance, enhances the value proposition for wealth managers and broadens the access to wealth management by combining investment intelligence, data science, and technology. TIFIN aims to make investing a more powerful driver of financial wellbeing.