The company announced today (Thursday) that fintech Lightyear has received $23 million in Series B funding, while reaching $1 billion in customer assets (AUM). The financing was led by European-Japanese venture capital firm Nordicninja.

$23 million fuel bulb investment expansion

The funding expanded to Sweden, Denmark and Bulgaria with light years, bringing its total market operations to 25 countries in Europe, providing investors with access to ETFs and stocks. The company now operates in 10 languages and has raised $58 million in total since it was founded five years ago by former wise workers Martin Sokk and Mihkel Sillaste.

Nordicninja led the tour with Superangel and SpecialistVC, with existing investors involved including Lightspeed, Metaplanet and Skaala. Famous angel investors in this round include Bolt founder Markus Villig and Wise’s Lars Trunin.

“Series B has made a huge vote of confidence in the untapped potential of investing in Europe,” CEO Martin Sokk said in a statement. The company said it reached an asset milestone of $1 billion in three years of operation.

Despite its growth, there are significant challenges in converting European savers into investors. The company acknowledged that its target market is still composed primarily of savers rather than active investors, although it reports that its clients have collectively earned more than $125 million in revenue through the platform.

AI tools launch with funds

Fund announcement time with Lightyear launched three AI-driven features designed to help retail investors access market analysis previously only for institutional investors. These tools include “Why Move”, which explains price movements on stock charts, Bulls / Bears say “lightning updates” for balancing investment analysis, and portfolio-specific market news.

Lightyear’s platform aims to address what it describes as a European savings problem. According to the company EU households hold nearly 11 trillion euros in cashwhile 61% of UK investors with more than £10,000 investable assets spend three quarters of their funds on cash rather than investment.

European expansion strategies

Since before Funding rebate In 2022, Lightyear adds several features including cash and stock ISAS Approved by regulatory approval from the UK Financial Conduct Authoritybusiness investment accounts across 18 countries, and partial investments in European stocks and funds. The platform also offers access to BlackRock money market funds, which usually requires a minimum investment of €1 million, which makes them offer only €1.

The company has integrated directly with the Nasdaq Baltic Sea to provide stocks for Estonia, Latvia and Lithuania and has successfully lobbyed for regulatory changes in Estonia to allow investment companies to provide tax-promoted accounts.

As Lightyear strives to build what is called “an investment platform operating in Europe”, new funds will support further expansion and deeper localization efforts in Europe.

This article was written by Damian Chmiel on www.financemagnates.com. (tagstotranslate) light years



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