London-based FinTech Novum Investment Management has secured a significant equity investment from a UK local government pension fund to support the launch of Doris, an investment technology designed to tackle one of the biggest barriers to investing: fear of open-ended risk.

The backing supports Novum’s next phase of growth as Doris moves towards market within the FCA’s regulatory framework.

Novum says the model has also attracted backing from government and parliamentary figures, highlighting its wider relevance to UK growth and participation in investing.