d1g1t, a Toronto, Canada-based enterprise wealth management platform, raised CAD $9m in Series A funding.
Backers included lead by Purpose Financial, which is headed by Som Seif and backed by the Ontario Municipal Pension Retirement System (OMERS), Extreme Venture Partners and Portag3, as well as a group of angel investors and clients.
The company intends to use the funds to continue to expand its offerings.
Co-founded by Dan Rosen, Philippe Rouanet and Benoit Fleury, who previously co-founded R2 Financial Technologies, (acquired by S&P Capital IQ) and before that were senior executives of Algorithmics Inc. (acquired by IBM), d1g1t provides enterprise portfolio management, analytics and client servicing tools to professional advisors and their individual investors.
Its enterprise-wide portfolio and client management capabilities enable advisors to manage their portfolios and provide their clients with investment decision support based on individualized goal-based planning tools, sound risk management and investment analytics.
The platform allows advisors to focus on their client needs and scale the business by integrating the entire client management lifecycle from client onboarding and financial and investment planning, to portfolio and client monitoring, portfolio rebalancing, trading and compliance.
The company’s enterprise wealth management platform is now going live with four clients, responsible for managing an approximately CAD $13 billion of assets under management (AUM) for over 5,000 households.