Andreessen Horowitz leads $58 Million in funding for fintech firm Titan, the cash raised will be used to expand Titan’s platform, launch a portfolio of investment products, and scale its core functional teams.
Titan, an investment management platform, raised $58 million in a funding round led by Andreessen Horowitz’s cryptocurrency fund, with Kevin Durant, Odell Beckham Jr, Jared Leto, and Will Smith among the participants.
Titan said on Tuesday that its mobile-first investment platform, which aims to provide skilled capital management to common investors regardless of their wealth, has grown more than sixfold in the past year.
Titan expects its assets under control to surpass a billion dollars later this year.
Titan claimed the total amount raised to date, including the current fundraising, is $75 million, with existing investors such as General Catalyst, BoxGroup, and Ashton Kutcher’s Sound Ventures also participating in the round.
Titan plans to use the cash raised to further expand its platform, launch a portfolio of investment products, and scale its core functional teams, according to the business.
“Traditional investment management vehicles are still analogous to VHS tapes in terms of technology. Titan’s co-founder and co-chief executive officer, Joe Percoco, stated, “The industry needs a new operating system.”
Anish Acharya, a general partner of Horowitz’s cryptocurrency firm a16z, will join Titan’s board of directors.