Better Wealth raises SEK 3M from Collector for launching an automated investment advisor in 2017

Betterwealth, the Swedish service providing an automated investment advisor, announced a SEK 3M investment from Collector Bank, via NFT Ventures.

The investment consolidates Collector's investment portfolio in the fintech startup ecosystem, as in November 2016 it announced being part of three deals: a SEK 20M transaction in Wint, an accounting SAAS solution from Gothenburg, an undisclosed investment in accounting app Mr Shoebox, and a convertible loan to the loyalty banking card Wrapp.

Betterwealth, founded by CTO Andreas Pålsson, is scheduled to be launched in 2017.

The company provides a fully automated investment advisory service based on algorithm-based portfolio management. Better Wealth focuses on private individuals and companies with a focus on a stable risk-adjusted returns and tailors each portfolio based on the user's investment objectives.