Quantfolio raises NOK15 million in VC investment round

Source: Quantfolio

The Bergen based robotics Fintech Quantfolio as has raised over 15 million in fresh capital for international growth.

Among the new investors are experienced financial profiles such as Åge Westbø and Filip Weintraub, former Skagenfunds founders which sold their company to Storebrand in 2018.

Quantfolio as, best known for delivering autonomous advisor technology to some of Scandinavia’s most innovative banks, is raising more than NOK 15 million in fresh capital for international growth. The capital will secure deliveries on large agreements that the company has recently entered into, in addition to further expansion in the Nordic region and Northern Europe. Among the new investors are experienced financial profiles such as Åge Westbø and Filip Weintraub. In addition, the Stavanger-based VC fund Link VC has joined the ownership side.

Commercial director and co-founder Jan Åge Skaathun in Quantfolio is delighted to have new owners.

- The company is now entering a phase where we have had breakthroughs on the customer side in Norway and Sweden. We are now scaling the company for growth and expansion. On that occasion, it has been important for us to have owners who can support the company in fulfilling the growth plans. We have achieved that with this round, he states.

Quantfolio was established by Skaathun and Helge Hannisdal in 2015 with an ambition to use data, AI and technology to make savings and investment smarter and more digitized through their "robot modules" in addition to the analyst tool "Deep Alpha". Since then, the company has signed innovation-leading banks such as Sbanken and Avanza, in addition to international customers on "Deep Alpha" and has just entered into an agreement with one of the Nordic region's largest financial groups for their robot advisor platform..

Sees huge growth opportunuties
Åge Westbø in Westknight sees enormous growth opportunities for Quantfolio's technology:

- Quantfolio has developed a comprehensive technology platform based on a number of financial data sources and delivers API components and robotic technology within investment and the savings area for banks and asset managers in addition to the analysis and simulation tool Deep Alpha for professional environments. Based on our expertise and experience from the industry, we want to contribute to the company continuing the good customer-oriented product development and get the growth we expect, and the company deserves, he says.

Skaathun believes that the time for internationalization and growth is now ideal.
- We see that the pace of change in society when it comes to digitization of the savings area has increased significantly, especially with the expectation of a sustained Corona situation. In addition, we see strong drivers such as a regulatory for distribution of funds, sustainability and pension, and not least an increase in the proportion of consumers who want long-term savings in securities. There are many who are positioning themselves now, and we see that Quantfolio for many will be a key component in their value proposition, also internationally, he concludes.

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