Ctrl Alt, a fintech start-up based in London and Dundalk, has secured €2.5 million in funding with Enterprise Ireland and MiddleGame Ventures among the backers.
Founded in 2020 by Matt Ong, who had formerly held senior roles at both Morgan Stanley and Credit Suisse, Ctrl Alt is a business-to-business provider for alternative assets. It assists companies looking to diversity their investment offering beyond stocks and bonds to ones in so-called fractionalised assets, such as property and green energy.
Ong, Ctrl Alt’s chief executive, said about the investment, “a culture of exclusivity, overly restrictive entry requirements and archaic processes have meant access to investing in things like property and green energy and more have traditionally been dominated by the super-rich and institutional investors. A diversified portfolio should play a key role in any investment strategy and it’s not right that alternative assets, a typically robust form of investment, remain in the old world of money.”
Jack Spargo, who previously founded and led Belfast-based Gratsi, which was acquired by Strikepay two years ago, is Ctrl Alt’s chief technology officer.
With offices in Dublin, Luxembourg, London and Washington, DC, MiddleGame, which has previously partnered with Enterprise Ireland on several fintech-focused funds, has invested more than €300 million in over 40 companies over the past ten years Other early-stage Irish companies it has backed include Wayflyer, Payslip, Circit, &Open, Trustap, Outmin and Conjura.
Michael Meyer, managing partner at MiddleGame, said, “we believe that more investors should have the ability to invest in higher returning alternative assets. To date, only institutions and the very wealthy have had access. Matt and his team at Ctrl Alt are working to change that. We are thrilled to be backing such a great team that has built a unique business, combining Matt’s expertise on regulation with cutting-edge technology.”
Source: Business Post
