Eastern Finance, a Russia-based financial service platform, is set to double down on the capital investment, technical development, computation model and algorithms after raising $36 million in a Series C investment round led by Finam Investment which is a venture capital fund under the umbrella of Finam Group which is a global security brokerage and asset management firm with A++ rating for Russian stock market.
Other participants including FortRoss Ventures, Sistama VC and Runa Capital take eToro’s total capital raised to $46 million.
Founded in 2018, Eastern Finance provides customized and comprehensive financial products in a basket of investments to high-networth individuals with 4 major lines of business that include investments accross 10 countries and territories, money lending in different currencies, quant and high-frequency trading and OTC services.
Andrei Remsha, CEO of Eastern Finance, commented on the plans for the cash injection ”This round of investment is critical in helping us to increase our capital and foundation pool for the investment in different markets especially in Asia as well as further develop our technology infrastructure and the computation model and algorithms of our system to allow more users benefit from it.”
Combining artificial intelligence and machine learning, Eastern Finance has developed EF system with unique algorithms to help with all the investment allocation. The money invested by small investors goes to the foundation pool of Eastern Finance and will be automatically split and distributed to investment fund, money-lending pool, quant and high-frenquency trading and OTC service in different proportions.
Now Eastern finance already has partnering offices in more than 10 countries worldwide including Russia, China, Korea, Japan, India, Australia, Brazil, Dubai and South Africa to help more small investors optimize their financial planning.