Westport-based financial technology firm Quorus said it has raised $5 million in seed funding to expand a platform used by asset managers to run customized, tax-managed investment portfolios.
The round was led by WisdomTree, with participation from Connecticut Innovations and Nassau Financial Group, among others.
Quorus said it provides software and back-end infrastructure that allows investment firms to manage large numbers of separately managed accounts — individualized portfolios — rather than traditional pooled funds. Its platform handles trading and tax management across those accounts.
The company said it will use the capital to expand its platform’s capabilities, integrations and supported investment strategies.
