Interactive Investor has raised a new undisclosed investment round to help grow its technology platform.

The business, which was set up 1995, is being backed by Augmentum Capital and Unicorn AIM VCT through the transaction.

Through its platform, Interactive Investor helps users to make financial decisions and manage investments by bringing together tools, facts and independent information. Some 600,000 posts are made on its discussion boards each year, while funds purchased by customers through the platform increased by 200 per cent in 2013 compared to 2012, according to a statement.

Tim Levene, founder of Augmentum Capital, says that the investment firm has been looking at the sector for quite some time, with the Retail Distribution Review (RDR) meaning that consumers should get a better deal when it comes to broking and investment advice.

‘We have a great deal of experience in working with consumer-driven online finance businesses,’ Levene adds.

‘There is no doubt that post RDR, Interactive Investor is in a great position to further grow its proposition. The industry is changing for the better with more transparent pricing and Interactive Investor is leading the charge.’

Set up in 2009, Augmentum Capital has made capital commitments in peer-to-peer borrowing service Zopa, retail business Bathrooms.com and online pawnbroker borro.

Interactive Investor CEO Adam Seale says, ‘We are confident that we are the natural choice for the discerning DIY investor, and have been particularly pleased by their recent steep increase in new client accounts following our competitors’ announcing new percentage-based fees.’

Prior to securing Augmentum and Unicorn as backers, Interactive Investor closed a £1.8 million funding round in January 2011 led by MMC Ventures.