Quantfolio raised NOK 15M from Link VC and angel investors.

Quantfolio, a Bergen, Norway-based developer of a SAAS for banks, announced closing a NOK 15 million ($1.6M) capital raise round.

The money was raised from investors from Norway led by Åge Westbø and Filip Weintraub, formerly with Skagen Funds, and included contributions from Stavanger-based VC fund Link VC.

Proceeds will be used to further grow in the Nordics and and expand internationally.

Quantfolio, founded in 2015 by CEO Helge Hannisdal and Jan Åge Skaathun, develops and sells “AI-in-a-box” components for banks & wealth managers with a digitial presence. The company works with customers including Sbanken and Avanz.