French-UK fintech Automata raises $1.8 million

UK and France-based fintech Automata has raised $1.8 million in private investments as part of its ongoing Series A funding round. The money was raised through an equity token offering, enabling the public to acquire real equity in the company, BusinessCloud reports. 

Founded in 2017 by Gael Itier, Automata is a creator of akt.io, a wealth-centered neobank, merging AI-powered investment technology, decentralized finance and payment solutions. The platform enables customers to create wealth through automated investing, earn daily interest payouts with high-yield vaults, and pay directly with any owned asset using the world’s first Wealth Card. The company is aimed to develop the most cutting-edge financial technology to give its clients everything they need to generate wealth and live a richer life.

The raised funds will help the company to develop its product and to support the evolution of its own technology. Also, they plan to raise a total of $9 million in the future to support product development.