Apollo Global Management (APO) and Hamilton Lane (HLNE) have joined in an $8.6 million seed funding round for Pluto Financial Technologies, Pluto said Tuesday.
Pluto is launching an artificial intelligence-powered lending platform purpose-built for private markets, the company said. Other participants in the funding round include Motive Ventures, Portage, Tectonic Ventures, and Broadhaven Ventures.
In addition to the equity investment, Pluto has also secured hundreds of millions in lending capacity, it said.
According to Pluto, the platform allows investors to access credit on demand without selling positions or waiting for intermediaries.
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