Israeli fintech startup Futora successfully completed a $6M fundraising round. The round included TAU Ventures, North First Ventures, J-Ventures from Silicon Valley, and Sergio Fogel, a serial fintech entrepreneur working in Israel and Uruguay.
Futora was founded in 2020 by Asaf Seri amd Ayal Leibowitz, after selling one of the Israeli fintech pioneers, Modelity Technologies, to the German LPA. Futora, originally called Modality Marketplace, began as an innovative venture within Modelity Technologies and later established itself as an independent company. The solution leverages the technology and know-how acquired in Modelity Technologies.
Futora’s vision is to enable personal investment products, typically reserved for elite high net worth Individuals, to be available and accessible to all.The company’s technology allows banks and financial institutions to instantly create investment products that are personally customized for each client.
The solution is based on an algorithm that eliminates manual work and includes a sophisticated marketplace of retail banks and large investment banks trading on the hedging instruments of the financial products.
Today, there are 10 global investment banks connected to the system which supply derivatives to retail banks. The company’s platform is now being piloted in a number of banks in Israel and abroad. Through these pilots, over a thousand personal deposits were created for private clients, starting at amounts of just a few thousand dollars per client.
The funds raised will support ongoing product development and in building the sales processes in Europe and the US.
Asaf Seri, CEO and co-founder of Futora: “For us and our investors, Futora is much more than a venture. It’s a passion. After many years in the fintech domain, we wanted to transform an industry that traditionally is reserved for a small eliteand render it accessible to all. My dream is that in several years, anyone who wishes to invest in a product adapted precisely to their level of risk and preferences will click on the Futora icon.”
Nimrod Cohen, Managing Partner at TAU Ventures: “Futora is a special company led by an experienced team with unique know-how in a field that has not changed in decades. We are happy and proud to be a part of Futora’s journey from the beginning and believe the company has a good chance of making a true difference in the industry.”