Korean startup Fount attracted $33,4 million for the development of robo-advisor

South Korean robo-advisor Fount attracted in the last stage $33,4 million investments. The tools will be used to extend the capabilities of developing platforms using ML. The main investors were financial companies Hana Financial Investment and Nice Investment. Smile Gate Investment also invested in robot advisor, KT Investment, Shinhan Capital and Korea Development Bank.

Корейский стартап Fount привлек $33,4 млн на развитие робоэдвайзера

Fount as a whole attracted about $58,5 million. Its assessment to date is $209 billion. Fount was founded in 2015 year. The company began the first beta testing of the robo-advisor in 2016 year, and in 2018 year, after all approvals with regulatory authorities, launched a mobile version of the platform.

The coronavirus situation has pushed people to use technologies such as roboadvisors.. According to media reports, volume of assets under management of three South Korean services, including Fount, January 2021 more than a year $1 billion.

Projected, global assets managed by roboadvisors will grow with $1,37 trillion in 2021 year before $2,8 trillion in 2025 year.

Based on TechCrunch

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