FintechLightyear has secured $23 million in Series B funding while reaching $1 billionin customer assets under management (AUM), the company announced today (Thursday).The funding round was led by NordicNinja, a European-Japanese venture capitalfirm.$23M Fuels LightyearInvestment ExpansionThe fundingcomes as Lightyear expands into Sweden, Denmark, and Bulgaria, bringing itstotal market presence to 25 countries across Europe, offering investors access toETFs and stocks. The company now operates in 10 languages and has raised $58million in total funding since its founding five years ago by former Wiseemployees Martin Sokk and Mihkel Sillaste.NordicNinjaled the round alongside Superangel and SpecialistVC, with participation fromexisting investors including Lightspeed, Metaplanet, and Skaala. Notable angelinvestors in this round include Bolt founder Markus Villig and Wise's LarsTrunin."ThisSeries B round is a huge vote of confidence in the untapped potential ofinvesting in Europe," CEO Martin Sokk said in a statement. The companysays it reached the $1 billion asset milestone in three years of operation.Despite itsgrowth, Lightyear faces significant challenges in converting European savers toinvestors. The company acknowledges that its target market remains largelycomprised of savers rather than active investors, though it reports thatcustomers have collectively gained over $125 million through the platform.AI Tools Launch AlongsideFundingThe timingof the funding announcement coincides with Lightyear's launch of threeAI-powered features designed to help retail investors access market analysispreviously available only to institutional investors. The tools include"Why Did It Move," which explains price movements on stock charts,"Bulls Say/Bears Say" for balanced investment analysis, and"Lightning Updates" for portfolio-specific market news.Lightyear'splatform aims to address what it describes as Europe's savings problem.According to the company, EU households hold nearly €11 trillion in cash, while61% of UK investors with more than £10,000 in investable assets keepthree-quarters of their money in cash rather than investments.European ExpansionStrategySince itsprevious funding round in 2022, Lightyear has added several features includingcash and stocks ISAs followingregulatory approval from the UK's Financial Conduct Authority, businessinvestment accounts across 18 countries, and fractional investing for Europeanstocks and funds. The platform also offers access to BlackRock money marketfunds typically requiring €1 million minimum investments, making them availableto users with just €1.The companyhas integrated directly with Nasdaq Baltic to offer stocks from Estonia,Latvia, and Lithuania, and successfully lobbied for regulatory changes inEstonia to allow investment firms to offer tax-advantaged accounts.The newfunding will support further European expansion and deeper localization effortsas Lightyear works to build what it calls "one investment platform thatworks across Europe."This article was written by Damian Chmiel at www.financemagnates.com.