Paris-based real-time investment monitoring platform Finary has raised €2.2 million in a seed round led by Speedinvest that saw participation from Y Combinator, Xavier Niel’s Kima Ventures, and a number of angel investors including Luke co-founder Raphaël Vullierme. The funding is expected to expand the team size as well as establish market presence in Europe and the US.
Finary.eu is not to be confused with finary.io, a “social platform where you can talk about investments with friends and make trades on the market,” that lists a founding date as April 1, 2020 and are both listed in Y Combinator’s directory.
Founded in 2020, by Julien Blancher and Mounir Laggoune, who lists May as a start date, Finary is a wealth management platform that provides users with an all-in-one, real-time dashboard of their investments. The product is squarely aimed at modern investors who are increasingly diversified and multi-platformed. Finary counts 10,000 banks and investment platforms in Europe and the US connected to its system, and covers crypto, real estate, precious metals, and startup investments overviews.
The platform is free to get started, with the revenue model based on a “Plus” service that provides full access to the platform’s features which include real-time performance analysis, hidden costs calculations, and automatic identification of new opportunities.
“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,” comments CEO Mounir Laggoune. “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.”