back Back

WealthKernel secures £6m in Series A extension funding

By Gloria Methri

January 24, 2024

  • Digital Investment
  • Digital Investments
  • Embedded Investing
Share

WealthKernel, Embedded Investing, Investment Infrastructure, Digital Investments, Portfolio Management, WealthTech, FinTech, UKWealthKernel, a WealthTech provider of digital investment solutions, has secured an investment of £6 million in a Series A extension round led by ETFS Capital.

The round also saw the participation of other prominent investors, including XTX Ventures, the venture capital arm of algorithmic trading company XTX Markets. The investment comes close to the heels of expansion plans for WealthKernel as it plans to strengthen its presence in the wealth management and advisor market segments.

This year, the company plans to position itself in the European market to cater to the growing demand for investment infrastructure solutions. The funding also follows WealthKernel’s recent venture into US equities trading and supports the company’s mission of helping to bring innovative and cost-effective solutions to everyday investors.

Martyn James, CEO of ETFS Capital, said, “We are pleased to provide further funding to WealthKernel. Having seen the business grow from strength to strength since we first invested in 2018, we look forward to supporting Karan and the team as they continue this expansion into Europe. The demand for innovation in the wealth and asset management industry has never been higher, which WealthKernel is perfectly placed to deliver.”

Karan Shanmugarajah, CEO of WealthKernel, said, “This funding comes at a time of rapid growth for WealthKernel. We have been expanding our services rapidly over the last few months, with our newest entry into the US equities market. The new funding will help fuel our commitment to strengthening our market presence and continue to bring innovative solutions to the wealth management industry.

Aqsa Tariq, CFO of WealthKernel, said, “I am very excited about the successful completion of the funding round. This funding round reflects the continued confidence of our investors in WealthKernel’s vision and technology. We are determined to make ‘wealth and investing’ easily accessible to everyone. As we continuously improve and strengthen our platform, we embark ourselves and the wider wealth management market on a route of long-term sustainable growth.”

Previous Article

January 24, 2024

Juuli unveils program to promote Freelancer Invoicing solutions

Read More
Next Article

January 24, 2024

Corpay launches spend management solution, ‘Corpay Complete’

Read More








IBSi Daily News Analysis

South East Asia

February 28, 2024

Digital Investment

FinTech penetration in Southeast Asia will double by 2027, research reveals

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

February 29, 2024

Barclays to sell $1.1b worth US credit card debt to Blackstone

Read More

February 29, 2024

Veriscape & Procurify to offer Spend Management in the Supply Chain Arena

Read More

February 29, 2024

Mintos debuts multi-asset investment platform in Italy and Spain

Read More

Related Reports

Sales League Table Report 2023
Know More
Global Digital Banking Vendor & Landscape Report Q4 2023
Know More
Wealth Management & Private Banking Systems Report Q4 2023
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q4 2023
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2023