UBS has participated in a $50 million funding round for Ethic, a tech-driven asset management platform.
Ethic provides financial intermediaries with tools to deliver personalized investment services, creating customizable equity portfolios that cater to the specific sustainability, financial, charitable giving, and tax management needs of end clients.
This Series C funding round was spearheaded by Jordan Park Group, with contributions from UBS Next and several existing investors, including Oak HC/FT, Nyca Partners, Sound Ventures, Urban Innovation Fund, and Kapor Capital.
Mike Dargan, UBS Group’s Chief Digital and Information Officer, stated, “Through UBS Next, we promote technology-driven innovation and support initiatives capable of transforming banking to align with our clients’ evolving preferences. Our investment in Ethic aims to broaden access to customizable, sustainable investment solutions for a wider range of investors.”
Despite market uncertainties, Ethic has experienced significant growth since its Series B funding in 2021, surpassing $2 billion in assets and increasing its team by over 70%.
The newly acquired funds will be allocated to the expansion into new markets and product offerings, as well as ongoing research and development initiatives.
In addition, Finextra has announced its fifth Sustainable Finance Live conference and hackathon scheduled for November 29. For further details and registration, please visit the event page here.