Hong Kong, 29 October 2020 – Quantifeed, Asia’s leading provider of digital wealth management solutions, has completed a Series B+ funding round. The investment is led by Franklin Templeton(NYSE: BEN), one of the largest global asset managers. To date, Quantifeed has received investments from LUN Partners Group, Cathay Financial Holding and Legg Mason, which was acquired by Franklin Templeton in July.
The Series B+ round will enable Quantifeed’s continued growth in its existing markets, namely Australia, Hong Kong, Japan, Singapore, Taiwan and Thailand. It will also accelerate Quantifeed’s expansion into new markets, including China’s Greater Bay Area and Malaysia. Quantifeed’s target markets are experiencing increasing demand for investment advice led by a fast-growing affluent class and ageing population. The investment from Franklin Templeton will allow Quantifeed to build engineering and delivery teams in its key growth markets.
Alex Ypsilanti, Chief Executive Officer and Co-founder of Quantifeed, said, “We are delighted to receive the backing of Franklin Templeton, further strengthening the partnership we had embarked on with Legg Mason. Despite the tough economic backdrop created by COVID-19, this is a vote of confidence in our vision, product proposition and track record of delivery. The capital will allow us to service an increasing number of institutions that are transforming themselves into providers of wealthcare – the financial wellness of an individual.”
Harshendu Bindal, Head of Digital Strategy and Wealth Management at Franklin Templeton, commented, “Franklin Templeton’s Series B+ investment underscores our confidence in Quantifeed. Their platform powers digital wealth offerings for financial institutions across Asia. They are an important part of the ecosystem in the region, where demand for wealth advice and retirement solutions is increasing. It underlines our continuous commitment to helping financial institutions digitize their client experience and advisor processes.”
Quantifeed is an established provider of fund and ETF portfolio order and trade management systems with straight-through-processing capabilities. Its on-premise and cloud solutions power the discretionary portfolio management platforms of some of Asia’s largest financial institutions. The capital injection will accelerate Quantifeed’s product development. The company plans to enhance its platform capabilities with new machine learning technology and financial needs analysis. The money will also be used to fund the development of new solutions, such as platforms that make planning and advisory services more efficient, flexible and scalable. Other plans include the rollout of retirement solutions, as the region’s new affluent class begin to shift from a life of work to a future beyond working life.