Belgian B2B wealthtech startup InvestSuite has topped up its seed funding round with an extra EUR2 million.
Existing and new business angels, management and employees participated, bringing InvestSuite's total funding since its start in June 2018 to EUR6 million.
Founded by a team of bankers, computer scientists and product designers, InvestSuite has developed AI-based digital investment tools for financial institutions.
The firm's main offering is an end-to-end, customisable roboadvisor, which provides an automated digital investment product that financial institutions can offer to their clients.
It also has tools for multi-asset trading, quantitative portfolio construction and portfolio reporting.
The company, which employs 25 people in Europe and also has a sales presence in Latin America and the Middle East, plans to use the new funding to make hires and expand its market reach.
Bart Vanhaeren, CEO, InvestSuite, says: "Wealth management is undergoing a large-scale digitalisation, and we are seeing great demand.
"We noticed that the pace of change has significantly increased during the last six to twelve months and are talking with financial institutions all over Europe, in the Middle East, Australia and even Brazil."