NordicNinja led the financing round alongside Lightspeed, Superangel, and several prominent angel investors.
"This Series B round is a huge vote of confidence in the untapped potential of investing in Europe and Lightyear’s ability to make the difference. Driving meaningful progress in this market means removing barriers to entry and demystifying investing for ordinary people. That’s why we feel so strongly about our vision for AI and the future of investing. Europe is still a society of savers with completely independent tax systems, different regulations and complicated infrastructure – it’s definitely not a one-size-fits-all solution. We’re making huge leaps forward in our mission to enable 750 million Europeans to build meaningful wealth, so it’s an incredibly exciting time for the business right now."
The funding will support engineering growth and artificial intelligence development as global demand for secure operational tools increases.
"Being unable to verify if a person can be trusted, if a task has been completed or work out how to pay them has been preventing successful humanitarian, aid and military missions for too long. Yet solving the issues has historically been considered too complex and too difficult, leaving organisations stuck using disparate and insecure platforms. We created Labrys to solve these tough workforce and team coordination problems in logistics, risk and humanitarian crisis response and we’ve built a talented team to tackle the hardest technical problems in this space. We’re delighted to be backed by investors who understand this mission and want to build the future of trusted infrastructure right alongside us."
The oversubscribed round was backed by investors including Specialist VC and Superangel to accelerate growth.
"We are delighted to have excellent investors backing our growth. The facts speak for themselves: in March, Swiss Re estimated that in 2021 natural catastrophes resulted in economic losses of $270 billion, of which $111 billion were insured losses. That is a big protection gap. We are now able to provide a new and scalable way to make risks and opportunities quantifiable that the insurance market needs to manage and absorb future risks."
