Ctrl Alt, a fintech startup that offers infrastructure to invest in alternative assets, has raised $2.7 million in a seed round.
The London-based company, founded in 2020 by former Morgan Stanley trader Matt Ong, has built an array of products for fintechs and investment platforms that enable them to offer access to fractionalized assets distributed using blockchain technology in areas like property and green energy.
“Alternatives is an intimidating space in many ways because it’s bucketed as anything that’s not stocks and bonds, so it’s a daunting universe that we’re tackling but an exciting one,” Ctrl Alt CEO Ong told Insider.
“We have previously been criticized for being asset agnostic but these asset classes can be particularly valuable in down markets but also in stronger times, so we can move with the macroeconomic conditions.”
Alternative assets tend to be more opaque and illiquid than traditional sectors like stock markets but as a result can be higher-yielding options for investors with a potentially higher risk threshold. For fintech startups that offer wealth management and investment products, alternatives could provide new opportunities to make revenues from wider yield spreads, Ong said.
The seed funding round was led by Forward Partners and Middlegame Ventures alongside a group of angel and existing investors such as Enterprise Ireland, Algorand Ventures, 365.fintech, and Syndicate Room.
“The market is tough for fundraising and that has an impact on you as a founder,” Ong added. “It was challenging to pitch a product that hadn’t been done before from asset class and product perspective but we wanted these funds to lead our round.”
VC investors have been increasingly prioritizing B2B propositions in fintech, over more consumer-focused offerings.
The fresh capital will go towards building out Ctrl Alt’s tech team and expanding its relationships with prospective customers. In addition, the company will look to hire around five new members of staff, specifically in tech and development as it looks to scale.
Check out Ctrl Alt’s 10-slide seed funding deck below:
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