A former UBS and Credit Suisse banker, is launching a Descartes Finance, aka the iTunes for Wealth Management. Descartes claims its functionality is richer than that of existing Swiss-based wealth-management platforms, offering algorithmically created Smart-Beta strategies. The company has raised $45 million in funding from investors including Andreessen Horowitz, General Catalyst, Kleiner Perkins Caufield & Byers, and Lightspeed Venture Partners.
A former UBS and Credit Suisse banker, is launching a Descartes Finance, aka the iTunes for Wealth Management. Descartes claims its functionality is richer than that of existing Swiss-based wealth-management platforms, offering algorithmically created Smart-Beta strategies. The company said it is close to signing a cooperation agreement with a big Anglo-Saxon asset manager and is also in talks with a number of other companies eager to participate.