Finary, a French fintech that offers online, real-time investment monitoring across multiple asset classes, today announces a €2.2 million seed round. The financing was led by Speedinvest with additional participation from Y Combinator, Kima Ventures and angel investors like Raphaël Vullierme (co-founder at Luko).
Founded in 2020 by Mounir Laggoune and Julien Bla ncher, Finary is a wealth management platform that makes it possible to monitor all a user’s investments in real time and with complete ease. Its unique technology meets the needs of modern global investors, who are increasingly diversified and multi-banked. The solution offers investors a holistic view of their assets through 10,000 connected banks and investment platforms in Europe and the US, crypto-currencies, real estate, precious metals and even startup investments. In addition, the platform allows investors to optimise their investments through machine learning algorithms.
Three months after launch, Finary already tracks more than €2 billion of assets for thousands of users. While the platform is free to sign up and get started, users can become Finary Plus members and gain access to the full range of features.
Mounir Laggoune, CEO of Finary, said: “Our ambition is to become the global reference for investment tracking and optimisation. Until now, no innovative player has come to dust off the wealth management sector whose methods and tools have remained unchanged for a long time. Many investors still rely on spreadsheets to track their investments, severely limiting their potential. Finary is the first tailor-made monitoring and optimisation platform and is designed as a digital strongbox to perfectly meet the expectations of modern investors.”
Finary is launching iOS and Android later this year and plans to connect thousands of additional financial institutions to the platform. The fintech will also expand its team and growing presence across Europe and in the US.
Olga Shikhantsova, Principal at Speedinvest, added: “The last decade has been a turning point for the private wealth world: Investing has become much more accessible (anyone can buy stocks or ETFs), new asset classes have emerged (crypto), and a new generation has built diverse personal portfolios. Meanwhile, the overall wealth management space failed to keep pace and has offered nothing new to private investors. Finary has accepted the challenge and is here to revolutionise private wealth management. We are excited to join the team’s journey and support their growth in France, Europe and beyond.”