WealthOS secures £2m seed funding led by Barclays
By Gloria Methri
WealthOS, a cloud-native and API-driven core WealthTech firm, has secured institutional seed funding from Barclays and other leading FinTech investors to propel the next phase of its growth.
Of the total £4 million raise, £2 million was secured in the first closing of the round, with a view to completing the second closing imminently. WealthOS will use this investment to further develop its platform and accelerate its market penetration.
In addition to Barclays, Singapore-based VC fund nVentures, Chris Adelsbach (Founding Partner – Outrun Ventures, Venture Partner – Techstars), and John Donohoe (CEO – Carne) participated in the round, along with existing investors Mike O’Brien (NED – Abrdn and Carne, ex-JP Morgan, ex-BGI/BlackRock) and John Herlihy (Chair – Carne, ex-Google, ex-LinkedIn).
“In just three short years since its founding, I am delighted that WealthOS has attracted the backing of a prestigious institution like Barclays and from a group of highly esteemed investors who strongly support our mission to upgrade the technology infrastructure for the wealth management industry,” stated CEO and Co-Founder of WealthOS Anton Padmasiri.
“It is evident that there is a clear demand for more choice and better technology in the core WealthTech space. With the second closing of the round open, I welcome inquiries from other strategic partners and investors who wish to join our journey of reshaping the WealthTech landscape.”
Co-head of Principal Investments at Barclays Andrew Challis said, “Our investment demonstrates our ongoing commitment to opportunities arising from our Rise Growth Academy and aligned with Barclays’ Innovation Thesis. We are excited to back Anton and his team in their next phase to unlock their full potential for scaling the business.”
WealthOS is a UK-based company that provides modern middle- and back-office technology to the savings, investment, and retirement industries. It provides the technology required for supporting features such as fully compliant client onboarding, tax-wrapper administration, portfolio management, rebalancing, trading, settlement, end-to-end recordkeeping, reconciliation, fee computation, account transfers, projections, and more.