TORONTO, June 24, 2021 /PRNewswire/ -- d1g1t Inc.,
the first provider of an enterprise wealth management platform
powered by institutional-grade analytics and risk management tools,
today announced it has closed a new fundraising round worth
$16 million (CAD). The round was led
by returning d1g1t investor CI Financial Corp. and included two new
institutional investors: National Bank of Canada's corporate venture capital arm
NAventures and U.S.-based fintech venture capital firm
MissionOG.
d1g1t will leverage the funding to expand the capabilities of
its platform, advance product innovation, scale operations and add
to its sales and marketing teams – all with an eye toward
supporting its continued growth and cementing its presence in the
U.S. wealth management market.
Dr. Dan Rosen, d1g1t's co-Founder
and CEO, said, "The company is both humbled and delighted that it
continues to attract investment from some of the most prominent
names in wealth management throughout North America. The confidence they have placed
in us validates our unique value proposition and highlights that
d1g1t's platform is fast becoming the preferred choice for firms
eager to empower advisors with the most sophisticated technology
offering in the industry."
The announcement comes as the company continues to experience
explosive growth. Despite a global pandemic, d1g1t doubled revenue
and grew its headcount by over 50% in 2020. Launched in 2016, d1g1t
now has over 60 employees supporting some of the top wealth
management firms, multi-family offices, registered investment
advisors (RIAs) and broker-dealers in North America serving high-net-worth and
ultra-high-net-worth investors.
FUNDRAISING ROUND PARTICIPANTS
- An early investor in d1g1t and strategic partner, CI Financial
is a global asset and wealth management firm. Since January 2020, CI Financial has been an active
acquirer of U.S. RIAs, building a U.S. wealth management business
with $73 billion (CAD) in assets (as
of May 31, 2021).
- NAventures is National Bank of Canada's corporate venture capital arm that
takes equity stakes in start-ups and growing businesses. National
Bank of Canada, together with its
subsidiaries, forms one of Canada's leading integrated financial
groups.
- Philadelphia-based MissionOG
is an experienced fintech investor with an impressive history of
partnering with high-growth B2B companies.
- In addition, most current d1g1t investors also participated in
this round, including Purpose Financial, Illuminate Financial and
the company's angel investors.
Darie Urbanky, CI Financial's President and Chief Operating
Officer and a d1g1t board member, said, "We see the sophistication
and scalability of d1g1t's platform as a strong enabler of our
growth strategy in Canada and the
RIA market in the U.S. This latest investment in Dan and his team
represents our enduring belief that the strategic alliance between
our companies provides us a competitive advantage as we continue to
execute our ambitious plans for growth."
Philippe Daoust, Managing
Director of National Bank of Canada's NAventures said, "d1g1t's technology
is nothing short of transformational, and we have seen a strong
demand in the industry for this type of solution. We are excited to
invest in the company and are proud to contribute to its tremendous
growth, both in Canada and
beyond."
MissionOG managing partner Andy
Newcomb further noted, "We have successfully backed a number
of wealth tech companies and are particularly impressed with
d1g1t's team and market approach. The company's rapid growth and
early adoption by some of the top U.S. wealth management firms is a
true testament to its unique value proposition to provide advisors
with the digital tools and analytics to create more meaningful
advice and client experiences. We are excited to support the
company's growth as they further expand into the U.S."
About d1g1t Inc.
d1g1t is the industry's first
enterprise wealth management platform powered by
institutional-grade analytics and risk management tools that allows
firms to elevate the quality of their advice and demonstrate its
value to clients. Through a single integrated solution that covers
the entire advisory lifecycle, d1g1t provides wealth management
firms with a whole new set of capabilities they've never had
before. Headquartered in Toronto,
the company was founded and is led by an experienced financial
technology team who have developed leading enterprise portfolio
systems for many of the world's banks, institutional asset
managers, hedge funds and regulators. Visit d1g1t.com to
learn more and also follow on LinkedIn.
About CI FINANCIAL
CI Financial Corp. is an
independent company offering global asset management and wealth
management advisory services. CI managed and advised on
approximately $288.3 billion in
client assets as of May 31, 2021. CI
is listed on the Toronto Stock Exchange under CIX and on the New
York Stock Exchange under CIXX. Further information is available
at www.cifinancial.com.
About National Bank of Canada
With $351 billion in assets
as at April 30, 2021, National
Bank of Canada, together with its
subsidiaries, forms one of Canada's leading integrated financial groups.
National Bank has more than 26,000 employees in knowledge-intensive
positions and has been recognized numerous times as a top employer
and for its commitment to diversity. Its securities are listed on
the Toronto Stock Exchange (TSX: NA). Follow National Bank's
activities at nbc.ca or via social media such
as Facebook, LinkedIn and Twitter.
About NAventures
NAventures, the corporate
venture capital arm of National Bank of Canada, takes equity
stakes in startups and growing businesses to foster growth in
companies that will shape the financial institutions of the future.
Follow NAventures activities
at nbc.ca/naventures.
About MissionOG
MissionOG partners with
high-growth businesses that have proven models in segments where we
have had success as operators and investors, including financial
services and payments, data platforms, and software. We apply our
experience and capabilities to a group of highly skilled and
passionate entrepreneurs whose businesses are on the cusp of
exponential growth. The firm is managed by operators and investors
who have effectively built early to growth stage businesses and
guided them through successful acquisitions. MissionOG is
headquartered in Philadelphia. For more information
visit www.missionog.com.
d1g1t, Inc. Media Contacts
Michael Dugan or Joseph Kuo
Haven Tower Group LLC
424 317 4852 or 424 317 4852
mdugan@haventower.com or jkuo@haventower.com
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SOURCE d1g1t Inc.