Since its inception in 2015, PortfolioQuest, a ‘virtual world’ training simulation platform, has been considered as an innovator in financial sector talent management and certification.
Standing true to the conferred title, the startup in an announcement today says it has raised $750,000 in pre-seed funding. The investment was led by Nels Friets and Venkatesh Sethuraman, joined by PortfoliQuest’s first institutional investor Wavemaker Partners, and a few undisclosed investors from the financial sector. This investment round will fuel the global roll-out of a paid beta version of PortfolioQuest.
The training platform is designed to hone, measure and benchmark technical skill in managing consumer lending portfolios. On-demand, players are able to practice their consumer lending skills in a dynamic environment with unlimited possible outcomes. The player data provides bank management with actionable insights about the landscape of employee skills and future training requirements. Michelle Katics, CEO of PortfolioQuest, said,
In a “post-bot” world of robo-tools, the strategic and forecasting job functions take on crucial importance. These skills require more powerful training tools than static e-learning in order to safely achieve positive financial outcomes. Our vision is to lead a data-driven era of risk culture, conduct compliance, and workforce transformation.
The company also appointed Nels Friets, former Vice-chairman and co-founder of tryb, a company that invests in technology companies transforming financial services in Asia, as its Director and Advisor. In a startement,
The old adage – if you can’t measure it, you can’t manage it, still holds true. PortfolioQuest shines a light on rising stars and skill gaps at the same time. It aims to bring simulation tools to the financial industry that are prevalent in other high stakes industries, such as aviation, military, and medicine.
Incubated by BankersLab, a leader in learning innovation, building “flight simulators” for FinTech and bankers, PortfolioQuest currently has offices in Singapore and San Francisco.