London 7 July 2020– Fundment, the leading all-in-one investment platform for financial advisers and wealth managers, has secured £3.375 million (US$4.25m) investment from ETFS Capital. The investment will fund UK expansion, in particular fast-tracking exciting new products, developing richer functionality and entry into additional UK segments.
Fundment is a Digital First wealth management platform providing an end-to-end solution for wealth firms and their clients. Fundment integrates core platform services, back office tools, discretionary investment management solutions and user-friendly portals to make ongoing daily operations and their monitoring highly efficient relative to alternatives. It also enables wealth businesses to scale quicker and more efficiently, even as client needs continue to evolve at an ever-faster pace.
Over the next year, the business aims to launch a number of significant new products, including a corporate workplace pension and an auto-enrolment solution. They will be complemented with enhanced functionality as advisers, wealth managers and their clients continue to adapt to an increasingly digital, unpredictable and fast-changing investment landscape.
Ola Abdul, Founder and CEO at Fundmentsaid: “Securing investment from ETFS Capital is further confirmation, not only that we are on the right path, but that our expansion is really only just beginning. Our technology and team are well positioned to expand having grown rapidly in the last 12 months and now onboarding around two new wealth clients weekly.”
Graham Tuckwell, Chairman at ETFS Capitaladded: “Fundment has impressed us with what they have achieved to date. This is a business with robust foundations, which is proving the importance and value of a Digital First approach. We believe Fundment has the potential to expand significantly in a post Covid-19 world.”