Opti raised SEK 20M to contribute to the financial robo-advisors market.
Opti, a Stockholm, Sweden-based company working on an automated service that provides financial advice, secured SEK 20M ($2.4M) in outside equity funding.
The backers include local investors Staffan Persson and Thord Wilkne, and the deal puts a SEK 100M ($12M) valuation for the company. The seed money contributed by the founders pre-taking outside investors amounts to approximately SEK 3M.
Opti, founded by Anders Wallace, Ann Grevelius, Gustav Broberg, Hannes Wikström and Jonas Hombert (CEO), developed a software tool providing financial advisory about savings in funds, independent from banks and fund companies. In addition to the comparative service, Opti works on building a portfolio service that will allow users to put together their own fund portfolio based on each customer's risk profile. The company was the first company in Sweden to be granted a license by Finansinspektionen (the swedish SEC/FCA) to digitally provide advice on securities (so-called "robo advising").