Dublin-based cloud investment platform Aikido Finance is to launch a fundraising round to raise £5m to support its plan to further scale the growth of the business and explore new markets.

Launched earlier this year by four computer scientists from Dublin, Aikido aims to give anyone access to investment strategies.

These have traditionally been confined to sophisticated financial institutions and enables investors to build their own investment portfolio.

Aikido now employs six people and aims to grow the team to 10 employees in early 2022.

There has been a particular emphasis on hiring developers, designers, and marketers and the new staff will serve to cope with the surge in demand experienced since the company's launch.

"There has been a rise in the investor generation as more people than ever hop into the markets unaided," the company's CEO and co-founder Shane O'Byrne said.

"We put structure, systems, and strategy behind investing, empowering our users to build their own investment portfolio and to do it systematically," he added.

The company's CFO and co-founder Conor Naylor said Aikido appeals to investors who want to actively build their own portfolios with little effort.

"These are exciting times and since our launch earlier this year the demand for our platform has exceeded forecasts. It's now time to announce our next funding round and explore new markets," he added.

Aikido recently closed their seed funding round, raising £1m from 14 investors worldwide, including US VC firm GoAhead Ventures and with support from Enterprise Ireland.