Chicago-based fintech company Halo Investing just raised a new round of funding to help it expand its international footprint.
The startup raised $12 million in a Series B round that included Allianz Life Ventures and William Blair Circle. Halo has now raised more than $15 million since launching in 2015, according to Crunchbase. The startup raised a $4 million Series A round in 2017.
Halo says the new funding will help the startup offer its service in more countries. It currently does business in the U.S., Asia, Africa, Europe and Latin America.
The Halo platform provides structured note investments to the average investor. Halo says it can ensure transparency, competition and price efficiency to all investors. Its clients include investment advisors, brokers, dealers and private banks.
The company was co-founded by CEO Biju Kulathakal, a serial entrepreneur and the co-founder of Redbox. Kulathakal, an Illinois Institute of Technology alum, is also a venture partner at OCA Venture Partners.
Halo’s other co-founder Jason Barsema, an alum of Northwestern University’s Kellogg School of Management, serves as the company’s president.
“Halo was purpose-built for Advisor’s needs, having the mantra of putting positive impact before profits,” Barsema said in a statement. “Whether you are a firefighter or a Fortune 500 CEO, all investors deserve access to protective investing, done in an independent and unbiased way. This has been the key to making Halo one of the largest platforms in the world, and we couldn’t be prouder to have Allianz and William Blair stand by our side on this mission.”