Following a twofold increase in clients and Assets under Advisory in 2021, MDOTM – the leading European provider of AI-driven Portfolio Advisory and Asset Allocation services – aims at the global leadership with the opening of the New York office in Q3 2022.
Over the last year, Fintech doubled headcount and became Europe’s largest AI-focused investment team after raising a Series-B round that brought total funding to about $10M. Investments significantly grew MDOTM’s in-house research capabilities, which over the last year benefited from the inclusion of the UK-based Mercurius’ data science team and new research partnerships for MDOTM LAB - the company’s research laboratory.
2021 saw Fintech becoming the first AI-driven advisor to sign the UN-sponsored Principles for Responsible Investment (UNPRI), joining the global network of financial institutions to include ESG considerations in their investment process. This commitment was further reflected in MDOTM’s inclusion in Lund and Gothenburg University’s application to MISTRA - the Swedish foundation for strategic environmental research - call on Biodiversity and Finance.
In the same period, the company reported a twofold increase in assets advised by ALICE®, MDOTM’s proprietary AI-driven methodology, used to deliver Portfolio Advisory and Asset Allocation services. The result comes from new client wins, including large insurance companies and asset managers launching new products or benefitting from ALICE® insights to enhance their investment process.
The past year’s activity puts MDOTM in a strong position, as the fintech’s technology was awarded in March 2022 among AIFIN’s financial innovations of the year. By the end of the year, the company plans to accelerate growth, bringing headcount to more than 50 people and becoming the global player in the AI-driven investment solutions market. It will also open an office in New York in Q3 2022, with AuA expected to surpass two billion euros by Q4 2022.
Tommaso Migliore, CEO and founder of MDOTM, commented: “2021 has been a pivotal year in our growth. In just six years, we became Europe’s largest team of AI in investing, raising about $10 M. We are planning strong growth in 2022, including opening a New York office and hiring 20 more people to bring our team north of 50 data scientists, engineers and finance professionals. More clients are waking up to the benefits of using AI to support their decision-making. As first movers and pioneers of AI in investing, we are well-positioned to convert this strong growth into a big jump in our Assets under Advisory.”