Vancouver-based FinTech Company Hubly Announces $1.95 Million Funding Top-up and a new Chief Growth OfficerFriday, December 9, 2022
Hubly Co-Founders, Ron Gorodetsky (left) and Louis Retief (right)
Vancouver, BC, December 9, 2022--(T-Net)--Vancouver-based fintech company Hubly announced today that it has received a $1.95 million (US $1.45 million) funding top-up and appointed a new Chief Growth Officer.
Hubly's technology is custom built for growing financial advisory firms and delivers a visual dashboard for client's to manage their workflows, processes, and individual client relationships. Hubly says its technology is easy to use and comes with sophisticated workflow templates to prevent things from falling through the cracks.
Since entering the market in 2019, Hubly says it has received a positive response from the wealth management industry, quickly grown their team size (to over 20 employees) and has continued to invest in and develop their product.
The company announced today that it has hired JD Davis, MBA, who will be joining the company's executive leadership team in the newly created role of Chief Growth Officer.
Davis brings with him considerable experience in the financial services industry, having previously served as co-founder, partner and Director of Business Development at FormulaFolio Investments, LLC., a Grand Rapids, Michigan-based advisory firm.
During his tenure at FormulaFolio Investments, Davis oversaw the design and launch of a turnkey asset management program, which led to an increase in the firm's assets under management from approximately $40 million to nearly $1 billion within 20 months.
"I'm excited to be part of this amazing team. I believe Hubly will revolutionize the way advisors scale their firms. In my experience, I have rarely seen technologies like Hubly that can truly transform an advisor's practice overnight, and allow them to become more efficient and productive," Davis said.
Davis previously sat on the company's advisory board for over two years.
"JD has been in our corner since the earliest days of Hubly - his deep experience in technology and business strategy will be invaluable as we continue on our growth journey. I am beyond excited to have him contribute to Hubly's growth in a full time capacity," said Hubly co-founder and CEO, Louis Retief.
The company also announced that it has completed a successful $1.95 million (USD $1.45M) financing round, complementing an initial investment of USD $1.3 million, which was completed in November 2021.
"We are thrilled to support this next chapter in Hubly's growth and welcome the addition of JD Davis to the team. JD has been a friend of mine for several years, and it's easy to see why he's an excellent fit for Hubly," OCA Ventures' Steve Shein said.
Since November 2021, the company has increased recurring revenue by 185% and grown their team from eight to 21 full-time employees. With the addition of Davis to the team and the completion of the financing round, the company says it is well-positioned to continue their rapid growth and achieve their mission of helping advisors scale their firms.
"We have been tracking the dynamics of the wealth management industry and we believe that Hubly is well suited to deliver further efficiency and functionality to the space," Shein added. "Louis and the team are customer-centric leaders with meticulous command of the data. They consistently exceed their targets and our expectations."
Hubly's technology helps growing financial advisory firms deliver an exceptional client experience with a visual dashboard to manage workflows, processes, and individual client relationships. Hubly's easy to use technology comes with sophisticated workflow templates to prevent things from falling through the cracks for you and your entire team.
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