MDOTM, a European specialist in AI-driven investment strategies, has completed a EUR6.2m Series B fundraising. The funds will accelerate MDOTM’s international expansion, double the size of its teams in London and Milan, and see the company open a new office in the US.
The new funds have been raised from institutional investors, private individuals and leading finance professionals, including Federico Ghizzoni, Chairman of Rothschild Italy and former CEO of UniCredit; Lorenzo Pagani, Managing Director at PIMCO; and Alberto Zaffignani, Managing Director and Head of Global Markets Italy at Natixis. Zaffignani also joins MDOTM as a non-executive board member.
MDOTM was founded in London in 2015 by Tommaso Migliore and Federico Mazzorin to use artificial intelligence to support the investment decisions of asset owners and asset managers. The company, which raised EUR2 million of Series A funding in 2018, now has a team of over 30 physicists, engineers, data scientists and finance experts.
Currently, MDOTM has over EUR750 million in Assets under Advisory. Its AI-driven strategies are used by banks, asset and wealth managers, pension funds, insurance companies and family offices.
Thanks to its innovative approach to AI, MDOTM is the only European fintech company to have been selected by Google to participate in its acceleration programme. It is also the winner of NTT DATA’s Open Innovation competition. In 2021, MDOTM’s ALICE™ technology – ‘Adaptive Learning In Complex Environments’ – was awarded ‘Asset Management Innovation of the Year’ by AIFiN. This year, MDOTM became the first AI-driven advisor to sign the UN’s Principles for Responsible Investment, joining the leading international network of institutional investors committed to including ESG criteria in their investment process.
Tommaso Migliore, CEO and Co-Founder of MDOTM, says: “We founded MDOTM to bring the benefits of Artificial Intelligence to asset managers and asset owners. AI is revolutionising how investment decisions are made, and the future of asset management will be shaped by collaboration between fintechs and financial institutions. With the support of the many high-profile and experienced investors who participated in our latest fundraising, MDOTM is in a very good position to lead the sector, expand internationally and continue its rapid growth.”
Zaffignani, MDOTM board member and investor, says: “A growing number of asset managers are looking to AI technology to enhance their investment decision-making and processes. MDOTM’s cutting-edge solutions already support many large financial institutions and the company is the European leader in AI-driven investment strategies. I’m delighted to support MDOTM’s young, bold and motivated team as the company embarks on the next phase of its growth.”
