#WealthManagement / Magnetis raises $11 million for its automated wealth management and brokerage service for Brazil

Magnetis, is an automated wealth management solution for Brazilian investors, has raised $11 million in a new round of funding as it transforms itself into a full-service brokerage…

Investors in the round included Redpoint eventures and Vostok Emerging Finance… [CEO:] “We’re quite happy with this vote of confidence from our investors. It only reinforces the credibility of our service and business model, which uses technology for goal-based investment management… The new funding will be used to launch our own brokerage and to develop new functionalities that improve customer experience and provide a complete and curated journey through goal-based investments.”

[Redpoint eventures:] “… Defining a personal investment portfolio is a science, not a game or lottery… Magnetis’ great differentiator is its ability to set up a personalized investment plan, with first-rate assets and its use of AI to manage all the variables in a sophisticated way…”

As the company closes on the new financing, it’s also launching a brokerage, which will enable the company to do more for its customers… “Our model for digital assets management and wealth creation is much more complete and sophisticated. The vision is to be a financial guide for our clients; making their investment experience simpler… A total integration with the broker makes the client’s journey simpler, more consolidated and complete.”

https://techcrunch.com/2020/07/30/magnetis-raises-11-million-for-its-automated-wealth-management-and-brokerage-service-for-brazil/2020/07/30/magnetis-raises-11-million-for-its-automated-wealth-management-and-brokerage-service-for-brazil/