Akt.io, a subsidiary of the Automata AI group, a financial mobility wealthtech with the ambition to democratise access to wealth management, announced that it has closed its Initial Coin Offering (ICO) of 27 million euros which will support the recruitment of over 200 people and boost its research and development activity.
Akt.io, already present in Dublin, London, Berlin, Dubai and Paris, has opened new offices in the South of France’s tech hub Sophia Antipolis in 2020 and has hired over 100 people in the last 8 months.
The company will assign some of the investment to its research and development activity which is focused on the creation of technology including Artificial Intelligence, that automates investment and trading so that anybody, even users with no previous background in or little knowledge of this area can participate. The platform will also provide educational content and add-ons, aiming to attract one million users by the end of 2022.
By simplifying the process and providing advice and guidance on how to invest, akt.io’s financial mobility platform aims to democratise access to wealth management, whether it is cryptocurrency or traditional assets, opening it up to a large audience.
Akt.io’s new product, which will be launched in most EEA markets from this spring, is designed to give consumers full control of their money, both in terms of management and availability, so that they can spend, save and invest with more autonomy than traditional banking and investing from as little as a euro. Akt.io is an account where money can be automatically invested and start generating returns while at the same time staying accessible for payments. As the technology is backed by the blockchain it means that the assets are secure and incorruptible.
Gael Itier, CEO and co-founder of akt.io commented on the company’s ambitions:
“What we are going to propose is an alternative to the aging banking system, specifically personal finance and savings, which is the last sector to resist technological innovation, as traditional financial institutions are afraid to give power back to the consumer. They don’t want to lose out on the huge profits they have been comfortable with for so long. Akt.io is developing high technology that will revolutionise the way everyone manages their money, not just crypto whizz kids. Our aim is for anybody, no matter how little financial or tech knowledge they have, to manage their own money and make it work for them.”
