Investment firm Lightyear has successfully completed a $23 million Series B funding round, aiming to integrate artificial intelligence into its platform.
The funding was spearheaded by NordicNinja, a European-Japanese venture capital firm, alongside support from Superangel, SpecialistVC, and previous investors. These resources will be directed towards launching Lightyear AI, a suite of innovative products designed to provide real-time market insights, coinciding with the platform’s milestone of achieving $1 billion in customer assets.
This funding coincides with Lightyear’s expansion into three new markets: Sweden, Denmark, and Bulgaria. The company is set to introduce new features that enhance access to expert analysis and financial news, tailored to individual user portfolios. One such feature, “Why Did It Move,” allows users to click on historical points on instrument charts to see what triggered price fluctuations. Additionally, the “Bulls Say, Bears Say” tool analyzes numerous trusted sources, presenting arguments both for and against specific instruments. The “Lightning Updates” feature provides concise updates regarding the instruments users hold or monitor, as well as insights into the broader market climate and sentiment.
Looking ahead, Lightyear plans to advance its AI initiatives further, aiming to empower retail investors with comprehensive wealth management capabilities.
With a total of $58 million raised so far, Lightyear was founded by two early employees of Wise and continues to attract respected angel investors, including Taavet Hinrikus (Wise), Ott Kaukver (Checkout.com), and Jaan Tallinn (Skype). Among the new investors in this Series B round is Markus Villig, founder and CEO of Bolt.
Martin Sokk, CEO and co-founder of Lightyear, remarked, “This Series B round represents a significant vote of confidence in the untapped potential of investing in Europe. Our goal is to eliminate barriers to entry and make investing more accessible to everyday people, which underscores our commitment to utilizing AI for the future of investment.”