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Halo Investing has closed a $12 million Series B financing round at an undisclosed valuation from several venture capitalists that will help further expand the Chicago firm’s international footprint.

Halo is the world's first multi-issuer technology platform for structured notes, which traditionally have had minimum investment sizes of over $1 million and have only been accessible by high-net-worth investors.

Investors include Allianz Life Ventures, part of Minneapolis-based Allianz Life Insurance Co. of North America; an affiliate of New York-based Piton Investment Management; and William Blair Circle, an affiliate of Chicago-based William Blair.

The investment will help further expand Halo's international footprint, support initiatives that will change the way structured notes are purchased, accessed and traded, and expand into new asset classes.

The Halo platform delivers structured notes to advisers around the world and ensures transparency, competition and price efficiency to all investors. Remaining independent allows Halo to deliver to buy-side wealth management channels the best investment for a client in an issuer-agnostic way while ensuring clients' data is completely protected.

Additionally, Halo's software helps both issuers and buy-side customers improve their order management workflow and has assisted in making back office and product compliance more efficient, thereby providing a seamless end-to-end structured note solution for its partners.

“While Halo was built for the buy-side, we have 18 leading issuers on our platform that really see the value of Halo's mission to disrupt and democratize what has traditionally been dominated by a few select Wall Street banks," Halo Co-Founder and CEO Biju Kulathakal said in a statement. “We believe that open access where issuers truly compete and don't pay to access advisors' orders ultimately keeps the market fair, balanced and transparent. It's what all of us as investors ourselves should expect and demand from our solution providers.”

Halo Investing has raised a total of $15.1 million in funding over two rounds, according to Crunchbase.