The Tifin Group has raised $22.3m in a series B funding round from JPMorgan Asset Management, Morningstar, and Broadridge.

Founded in 2018, Tifin operates ten fintech companies in the asset and wealth management space.

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It offers automatic savings services for consumers, portfolio design tools for retail investors and professional wealth managers.

The latest fundraising follows Tifin’s purchase of risk profiling firm Totum Risk and personal financial planning offering myFinancialAnswers last month.

The proceeds from the new round, alongside existing capital from its previous capital raise, will be used by the company to fund platform expansion and additional acquisitions.

Tifin said it is currently collaborating with its strategic partners to help accelerate their fintech innovation initiatives.

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Tifin Group founder, chairman and CEO Vinay Nair said: “We are delighted to welcome JP Morgan, Morningstar and Broadridge as investors and partners. We are equally grateful for their belief and support in the future we envision.

“We look forward to working with them to further our core mission at Tifin and make investing a more meaningful and relevant component of every individual’s financial well-being.”

JP Morgan Asset Management CEO George Gatch said: “Tifin’s advanced tech and data-driven tools have tremendous potential to shape the future of the asset management and wealth management industries.”

Morningstar CEO Kunal Kapoor added: “Tifin is building a fintech platform that enables wealth and asset managers to meet the rising demand from investors for truly personalised experiences.

“Vinay shares Morningstar’s investor-first mindset powered by data and thoughtful design, and his leadership gives us confidence in the growth opportunities ahead.”