Cambridge, Massachusetts -- Software technology company Finomial has raised $1.6 million in equity venture capital financing, according to an SEC regulatory filing.
Finomial has developed software that automates the "current manual alternaitve fund subscription process between investor, fund manager and administrator."
Investors in the financing were not disclosed, nor was how the company intends to use the funding proceeds.
A total of nine investors participated in the offering.
Finomial is still seeking approximately $1.4 million in additional financing, according to the filing.