Yomoni, the France-based operator of a financial advice system, has raised €8.7m ($10.3m) from financial services firm Crédit Mutuel Arkéa and investment firm Weber Investissement.
Founded in 2014, Yomoni has developed an online investment platform powered by an automated bot adviser that helps retail investors manage their long-term savings in different asset classes including stocks and bonds.
The company covers different savings plans including life insurance, stock and securities accounts. It is managing more than 21,000 mandates, up 40% from the end of 2019, and over €250m in assets. The cash will be used to add a retirement savings plan to its portfolio by the end of this year.
Crédit Mutuel Arkéa and Iéna Venture, a subsidiary of asset manager La Financière de l’Echiquier, had backed a $5.4m round for Yomoni in early 2017, the two having invested $3.8m in the company two years previously.
