Allianz Life Ventures, a corporate venturing subsidiary of insurance provider Allianz, has participated in an $11m series B round for US-based financial technology developer Halo Investing.
William Blair Circle, a subsidiary of investment bank William Blair, also took part in the round, as did an affiliate of asset manager Piton Investment Management.
Founded in 2015, Halo has developed software that enables financial professionals to manage and analyse structured note portfolios for clients. Users can start with $1,000 instead of the $1m traditionally needed for structured notes investing.
The company raised $4.1m of a $6.7m round, from undisclosed investors, in May 2017 according to a securities filing.
Corey Walther, head of distribution relationship management and business development of Allianz Life, said: “We were especially interested in Halo because of their belief that all investors should have access to the same investment products.
“In addition, they are doing some innovative work with the power of their analytics and automation capabilities, and we are excited to assess how that can be applied to the annuity marketplace.”