Exclusive via axiospro: Meghan and Harry-backed fintech Ethic raises $50 million
, the socially responsible investing startup backed by Prince Harry and Duchess of Sussex Meghan Markle, has raised $50 million in Series C funding, the company told Axios exclusively.: The funding round shows continued inflows into value-based investing even in a market downturn, and it highlights the move toward personalization of portfolios.: Ethic's assets under management grew 53% since October 2021 to $2 billion, the company says .
It also helps users reduce their capital gains taxes— a feature that has become an important draw during the recent market volatility, CEO Doug Scott said in an interview.: Jordan Park, an existing investor and client of Ethic, is leading the funding round. Other investors include UBS Next, Oak HC/FT, Nyca Partners, Sound Ventures, Urban Innovation Fund and Kapor Capital.
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