D1g1t Inc., the first provider of an enterprise wealth management platform powered by institutional-grade analytics and risk management tools, today announced that it has received an additional CAD$3 million in strategic financing from Illuminate Financial Management as an extension of their Series A round bringing the total raised to over CAD$12 million.
The funding will be used to accelerate product innovation for its industry-leading wealth advisory platform and further d1g1t's commercial expansion into the United States market.
"The wealth industry is at a crossroads and ready for change," said Mark Rodrigues, partner at Illuminate, who will join d1g1t's board of directors. "We believe there is a huge opportunity for an end-to-end platform which streamlines the existing infrastructure and brings institutional-grade analytics to the underserved wealth market. The firms using d1g1t's platform have not only improved internal efficiencies, but also accessed a whole new set of capabilities which allow them to deliver an exceptional experience to their clients. We're very excited to add d1g1t to our portfolio and support an experienced management team with a proven track record of delivering advanced solutions to top financial institutions around the world."
d1g1t was created to transform the patchwork of legacy systems with a single, integrated platform that manages the entire wealth management advisory life cycle through a seamless workflow that is highly intuitive and easy-to-use by the entire firm. The platform empowers advisory firms to scale up the high-value, human services that set them apart in an increasingly competitive and automated world.
"What good is data without good analytics?" commented Dan Rosen, d1g1t CEO and co-founder. "Advisors need to be able to respond efficiently to client demands and share valuable insights in real-time about clients, portfolios and the business across the organization. Stronger collaboration occurs when everyone is on the same page."
"We feel very fortunate to have Illuminate as our partner who joins an amazing group of highly-regarded FinTech investors. We're looking forward to leveraging their deep expertise and network as we set new standards in the wealth management industry," concluded Rosen.