Recently, the UK-based company raised €1.5M (approx £1.3 million) in private investments as part of its ongoing Series A funding round. The funding is raised through an equity token offering, enabling the public to acquire real equity in the company – creating a decentralized IPO. The €2 million (approx £1.8 million) raised so far is part of a plan to raise a total of €7 million (approx £6.3 million) to develop its technology.
Gael Itier, CEO and founder of Automata says: “Banks are and have always been so conservative, and they don’t mix with technology as they should. We are developing and merging cutting edge technology to provide the next generation of banking for people. A single platform where your money is always invested and working for you while being instantly accessible for your daily needs.”
Automata plans to use the funding to accelerate its product development, the evolution of its proprietary technology, and the rollout of its ‘Wealth Card’ to the UK.