Salem Radio Network News Sunday, May 22, 2022

Science

Fintech startup TIFIN raises funds at $842 million valuation

(Reuters) – Fintech platform TIFIN said on Thursday it had raised $109 million in fresh capital in a late-stage funding round, with investments from Franklin Resources and J.P. Morgan Asset Management, that valued the firm at $842 million.

The new series D round also saw investments from private equity firm Motive Partners and Hamilton Lane.

Even as tech valuations in public markets suffer amid volatility and rate-hike fears, several private companies have raised funds this year as venture capital and private equity firms continue to bet on the sector.

TIFIN said its valuation has jumped several fold since its series B and series C rounds, which valued it at $184 million and $447 million, respectively.

TIFIN, founded in 2018, runs an artificial intelligence powered financial platform geared towards investors to help them manage their wealth and bridge the gap with asset managers.

The company intends to use the funds from the round to fuel its growth by adding additional products and expand outside the United States into new markets.

(Reporting by Manya Saini in Bengaluru; Editing by Rashmi Aich)

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