Fintech Startup Futora Secures $6 Million In Funding To Support Ongoing Product Development

Futora, an Israeli fintech startup, has raised $6 million in a funding round led by TAU Ventures, Tel-Aviv University’s investment fund, North First Ventures, J-Ventures from Silicon Valley, and Sergio Fogel.

Founded by Asaf Seri and Ayal Leibowitz in 2020, Futora’s technology allows banks and financial institutions to instantly create investment products that are personally customized for each client. Formally called Modality Marketplace, Futora originally began as an innovative venture incorporated with Modelity Technologies, and later established itself as a stand-alone company. The solution that the company provides 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.

The company’s platform, which leverages the technology and proficiency acquired in Modelity Technologies, is now being piloted in several banks in Israel and abroad. Through these pilots, over a thousand personal deposits have been created for private clients, beginning at amounts of just a few thousand dollars per client.

Futora’s vision is to make personal investment products, usually reserved for wealthy and prominent individuals, to be available and accessible to all. “After many years in the fintech domain, we wanted to transform an industry that traditionally is reserved for a small elite and 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,” Asaf Seri, Chief Executive Officer and Co-founder of Futora, said.

Talking about the investment, Nimrod Cohen, Managing Partner at TAU Ventures said: “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.”

With the new funds, the company, which currently has a market capitalization of over $16 billion, plans to support ongoing product development and develop the sales processes in Europe and the United States.