Quantifeed, a Hong Kong-based wealthtech company that designs digital solutions for financial institutions, has raised an undisclosed amount in a Series C funding round led by HSBC Alternatives and Daiwa PI Partners. Alex Ypsilanti, CEO and co-founder, told DigFin the proceeds will boost the company’s expanding client categories. Quantifeed got its start in 2014 as a robo-advisor building digital solutions for consumer banks, enabling them to better target their captive depositors with investment products. Quantifeed is a middle layer of technology between the bank’s own front end and its back-office engines, enabling customers to receive advice, implement investment strategies, and top up portfolios from their current accounts. It won big mandates from the likes of CITIC Bank in Hong Kong, Cathay United Bank in Taiwan, DBS in Singapore and MUFG in Japan. Read more: DBS consumer bank’s idea of financial inclusion? Advice Kiatnakin Phatra Securities goes robo with Quantifeed Franklin Templeton seeks fintech partners in Asia Ypsilanti says the business is serving new client segments including private banks such as Thailand’s Phatra Private Bank. It is adding new geographies, with a first client from India in the works. And it is looking to build tech for insurance companies so they can better leverage tied agency salesforces to distribute investment products. “That’s a distribution channel begging to be digitized,” Ypsilanti said. He declined to disclose a valuation or other metrics for the business, but says the goal is to grow “by 10 times” in the next five years, which means a combination of increased revenues, geographies, and number and breadth of customers. Quantifeed will remain focused on the Asia Pacific region, however. “We compete on our knowledge of local nuances, and … Continue reading Quantifeed expands sales to insurers, private banks