Mylo raises $2.5M in seed round

Mylo Financial Technologies announced it has closed $2 million CAD of seed funding. The funding round included participation by Desjardins Capital, Robert Raich and founding investor, Ferst Capital Partners (FCP).

Mylo will use the funding to scale their operations and develop their backend technology to become a full-service AI-driven personal financial management (PFM) platform that helps Canadians invest in their future, regardless of income or net worth.

The company aims to let Canadians start investing with less than $1, automatically investing their spare change into a personalized, diversified portfolio of ETFs (Exchange-Traded Funds).