Former AIB Group chief executive Tom Mulcahy, Delta Index chairman Dermot O'Donoghue, and former head of treasury at AIB Group and international development director Chris Curran participated in the round. Mulcahy was an early investor in the company.

The investment round values the company at a level three times what it was valued at a year ago. The company said the investment would fund its expansion into new European markets.

"Delta Index brings a compelling alternative for Irish investors which provides significant advantages over traditional investment vehicles, " O'Donoghue said.

"It is this that has attracted both new clients and quality investors. These investors understand why we continue to win new clients and have indicated their interest in participating in future rounds of fundraising."

The company was founded in 2002 by actuary Conor O'Neill and technology expert Michael O'Shea. Other investors in the company include Dolmen Securities, the parent company of Dolmen Stockbrokers.