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closed on a $58 million Series B led by just five months after it raised a $12.5 million Series A led by . Previous investors General Catalyst, , and ‘s all participated in the round along with entertainment and sports luminaries , , and .听听

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“We’re building the next , which is a premier investment management platform for our generation,” , co-founder and co-CEO of Titan, said in an interview.

Percoco breaks down investing into three buckets: passive index funds like the S&P 500; self-brokerage, where individuals buy and sell stocks; and investment management led by firms like , Fidelity and . Titan aims to bring this third bucket, investment management, where there has been little innovation, to Gen Z and millennials without requiring its customers to be wealthy.聽

鈥淎ny retail client can download our mobile app and immediately after they transfer capital they’re invested in our proprietary strategies,鈥� which are like mutual funds but unlike 鈥渢he legacy and archaic mutual funds of the past, ours is not a black box it’s an open box,鈥� he said.听听

鈥淲e think the entire stack needs to be rebuilt for this new generation,鈥� said Percoco. 鈥淭hey demand different things, they want everything in real time, they want it fast, they want it on their phone. They expect to have an audience with whoever is the human being on the other side.鈥�

鈥淭here’s a really strong return of active investing,鈥� , a general partner at a16z, said in an interview with 附近上门 News. Acharya led the investment and is joining the board.聽

鈥淲hat we love about the Titan product and thesis is you ride shotgun along with some of the best fund managers in the world,鈥� he said.聽

Acharya views , another a16z portfolio company, as complementary for consumers who say don’t know what stocks to buy next. This gives users exposure to active funds and the learning that comes with that.聽

titan has 30,000 customers through organic growth, with seven out of 10 coming to the platform each week, said Percoco. It will have $1 billion in assets under management in the fall, just over three years since it launched.聽

Users need to have at least $100 to invest and either pay a $5 monthly fee or 1 percent if their investment is $10,000 or more.聽

鈥淓very financial product is being reinvented for Gen Z,鈥� said Acharya. 鈥淲hat exemplifies this generation is not just sort of making their own investing decisions, but really wanting to be in the loop with respect to their money.鈥�

鈥淥ur goal is to render the mutual fund obsolete,鈥� said Percoco. 鈥淎ll new products and vehicles are launched mobile-first direct-to-consumer, not black box, no layers and layers of fees.鈥澛�

The firm currently hosts three funds and aims to launch a crypto fund next. The service has already had mutual fund managers reach out who could build products on top of Titan and communicate directly with its customers via the service.聽

Featured picture: Titan co-founders Joe Percoco, Max Bernardy and Clayton Gardner.聽

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