Responsive Closes First Round of Financing with Investment from Co-operators
The company plans to use investment to further their advances in AI-supported wealth management technology
Apr 19, 2022
Vancouver, BC, April 19, 2022 – Responsive, a fintech company that leverages machine learning to help financial advisors to better serve and engage investors, announced today that it has closed a $3.5M (CAD) Series A round led by Co-operators. The investment will help the company expand to US and European markets, as well as commercialize their APIs and integrations to help advisory businesses and platforms rapidly adopt their solutions.
“Our mission is to help institutions scale better advice, to more clients.” said Davyde Wachell CEO of Responsive, “Our core product “Prioritize” supercharges advisors with personalized actions and conversations that create value for their clients, and for their business. Our APIs can help organizations accelerate time to value by unlocking insights hidden in data, and enable advisors to see more, do more and succeed more for their clients.”
Co-operators utilizes the company’s solutions to provide a custom streamlined onboarding and advisor workflows and will continue to partner with Responsive to add more functionality to its wealth management platforms in the future. "Partnering with companies like Responsive is core to our innovation strategy," says Co-operators’ Daniel Sinclair, Vice President, Corporate Development & Co-Head Co-operators Corporate Venture Fund. "As a purpose-built financial services provider, we are committed to improving resiliency for all Canadians. With Responsive's productivity tools already running across our entire advisor network, we know that their insights enable advisors to offer data driven solutions that help our clients grow their wealth and secure their financial future.”
As part of the partnership, Co-operators will join Responsive’s board of directors.
The new financing builds on Responsive’s notable accomplishments, including:
- Participation and investment from Plug and Play Ventures’ Fintech Accelerator Program
- Participation in Accenture Fintech Lab in London Accelerator
- Partnership Agreement with Nexi Open, one of Europe’s leading open banking platforms
- Winner of the OP Labs WealthTech Program in Finland
Responsive’s Chief Science Officer, Logan Grosenick, is leading the development of the company’s machine learning powered personalization engine. Dr. Grosenick has over 40 articles in engineering, statistics, and neuroscience journals (including Nature, Science, and Cell). At Responsive, Dr. Grosenick uses machine learning to model client financial behaviour so that advisors can take actions that yield the best outcomes for clients.
About Responsive Financial Technologies Inc.
Responsive provides productivity and insight solutions to advisor-led businesses that manage over $10B AUM. Responsive’s “Prioritize” tool enables advisors to focus on the most valuable actions and conversations to grow client wealth and trust. Responsive APIs and data tools help institutions innovate rapidly while maintaining platform flexibility and regulatory defensibility.
For more information, visit www.responsive.ai.
Co-operators is a leading Canadian financial services co-operative, offering multi-line insurance and investment products, services, and personalized advice to help Canadians build their financial strength and security. The company has more than $61.5 billion in assets under administration. Co-operators has been providing trusted guidance to Canadians for the past 76 years. The organization is well known for its community involvement and its commitment to sustainability. Achieving carbon neutral equivalency in 2020, the organization is committed to net-zero emissions in its operations and investments by 2040, and 2050, respectively. Co-operators is also ranked as a Corporate Knights’ Best 50 Corporate Citizen in Canada and is listed among the Best Employers in Canada by Kincentric. For more information, please visit: www.cooperators.ca.
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