A UK and France based Fintech startup Automata, has added €2 million investment for creating a digital banking, retail payments and alternative system for investing on 2nd November 2020. This investment is a part of the company’s ongoing Series A round which has a target of raising €7 million.
The funding details
The funding was raised by making an equity token offer for the public and allowing them to own real equity of the company. This was an unconventional way of fundraising and thereby created a decentralized IPO. After the launch of the mobile app users can buy equity tokens straight away from the app and will become shareholders of the same bank i.e. Akt.io.
The aim of automata is to create the first neo bank which is wealth centered and enables creation of wealth using automated investing. With akt.io people can have daily interest with high-yielding wallets and thereby pay using any asset that they own.
The intelligent wealth bot of Automata makes use of sophisticated algorithms that can efficiently manage investments for you so that people can never miss out on any great investment. It makes investing easier than ever. People can increase the value of their deposits with the high yielding vault in which the interest will be directly credited to the holder account regularly with the compounding effect. Automata provides experience of next-generation banking that involves paying using any asset that one owns, automatic investing, creating an account in minutes, spending abroad for free and receiving daily interest. They have merged their investment solution platform with retail digital banking and have paved the way for real innovation in the Fintech sector.
The akt.io wealth card
The akt.io wealth card is an innovative product offered by Automata that enables the users to invest and pay with the invested capital. It provides a single platform where people can spend and grow their wealth. The assets are dependent on the user’s choice, like people can buy a cupcake using a Tesla stock! A portion of the asset people own will be sold while they pay for something in an automatic exchange. The wealth card can be used anywhere across the world.
About Automata
The startup providing trading strategies for cryptocurrencies was founded in 2017 by Matthias Kurz and Gael Itier. They provide simple and safe trip solutions focusing on capital protection and risk management. Automata consists of 15 talented entrepreneurs, engineers , specialists and developers who aim at optimizing the use of artificial intelligence to revolutionize the Fintech industry.
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