Alternative assets provider Ctrl Alt has raised €2.5 million in a funding round to help grow its business and make financial services more competitive.
The company provides the infrastructure for investment platforms to diversify their investments and access alternative assets such as property and green energy.
The round was led by Forward Partners and Middlegame Ventures, with participation from Enterprise Ireland alongside a number of institutional and angels that include Algorand Ventures, 365.fintech, Syndicate Room, Marc Cohen, former Google and Citymapper executive Omid Ashtari and Sequel & Velocity Black cofounder Alex Macdonald.
“We believe that more investors should have the ability to invest in higher returning alternative assets,” said Michael Meyer, managing partner of MiddleGame Ventures. “To date, only institutions and the very wealthy have had access. Matt and his team at Ctrl Alt are working to change that. We are thrilled to be backing such a great team that has built a unique business, combining Matt’s expertise on regulation with cutting-edge technology.”
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The company, which has its European headquarters in Ireland, said it planned to grow its teams in Ireland, which include technology, operations and compliance.
“A culture of exclusivity, overly restrictive entry requirements and archaic processes have meant access to investing in things like property and green energy and more have traditionally been dominated by the super-rich and institutional investors,” said chief executive Matt Ong. “A diversified portfolio should play a key role in any investment strategy and it’s not right that alternative assets, a typically robust form of investment, remain in the old world of money.”
Ctrl Alt was founded in 2020 by Mr Ong, who previously worked with Morgan Stanley and Credit Suisse. It uses API and white-label capabilities to help platforms to diversify their investments. The company’s products also help asset owners raise capital more easily.
“There are plenty of asset holders who are looking for new ways to finance and free up capital. By simplifying the process and providing more on-hand support, we’re meeting the growing consumer demand for alternative assets by bringing more assets into the market,” Mr Ong said.
