Mylo Financial Technologies Raises CAD$2.5M in Seed Funding Round
Summary
Mylo Financial Technologies Inc., a Montreal, Canada-based fintech app that invests Canadians spare change, raises CAD$2.5M in seed funding round.The company will use the funding to scale their operations and develop their backend technology to become a full-service AI-driven personal financial management (PFM) platform.Led by Philip Barrar, CEO and Founder, Mylo is using technology to let users round up their purchases and invest the spare change.Users set an investment goal during the signup process, for example a down payment on a house or a vacation.Mylo acquired Tactex Asset Management in June 2017, launched the iOS app in July 2017 and released the Android app last fall.
Funding
Amount
$2.5M
Total raised
Date
January 9, 2018
Announcement date
Investors
-
Lead investors
Company
http://mylo.ai
Funded company
Classifications
industries
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applications
Engineering & Scientific
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