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Anglo French FinTech Automata raises €2 million in Series A funding round

By Megha Bhattacharya

November 03, 2020

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UK-France-based FinTech Automata today announced €1.5 million in private investments as part of its ongoing Series A funding round and €2 million in total investments. The funding was raised through an equity token offering, thus enabling the public to acquire real equity in the company.

The company stated that the funding will be used to support product development, the development of its technology and the rollout of its self-termed ‘Wealth Card’ to the UK, allowing users to invest and pay directly with invested capital.

Gael Itier, CEO and founder of Automata said, “We are transforming retail banking, investing and payments not at a surface level but at the core. Anyone can now have their money invested with a tap on their phone and still spend it as if the money was sitting on a normal current account. With automated fractional investing, you don’t need the same level of capital and knowledge anymore and investing becomes easy and accessible for everyone.”

“Savings have become a thing of the past, a sacrifice with close to zero returns. People need their money to grow and that’s not going to happen with a savings account that can’t even keep up with inflation. Investing has become mandatory for everyone wanting to secure their financial future.”

Automata is the creator of wealth-centred neobank akt.io. The akt.io Wealth Card connects users to an all-in-one digital platform which allows them to grow their wealth while at the same time keeping it accessible for spending. The company aims to raise a total of €7million, which Automata will use to develop its bespoke technology.

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