Jacobi, an Australian start-up that helps institutional investors to build portfolios, has revealed the Universities Superannuation Scheme as one of its first European clients. The USS is one of the UK’s largest pension schemes, managing more than £60bn in assets for academic and academic-related staff.

The USS and another client, the investment arm of Willis Towers Watson, the insurance brokerage, signed up to the platform at the same time Jacobi announced its launch in Europe. On July 9, Jacobi announced the closing of an 11m Australian dollar fundraising from Illuminate Ventures, 8VC and CreditEase, the venture capital firms. Part of the proceeds are being used to fuel its European expansion.