| 21 Jan 2020
WealthKernel Secures £4.5M Series-A Funding from ETFS Capital to accelerate growth
NOTTINGHAM, UK, January 21st, 2020 -- WealthKernel, the 'AWS' of wealthtech, is a fast-growing UK-based digital wealth infrastructure and technology provider. They have secured a £4.5 Million (US$6 Million) Series A funding from ETFS Capital to democratise wealth management. Their aim is to enable companies to innovate and widen access to wealth management services for a broader universe of people.
WealthKernel, via its proprietary API platform and modular architecture approach is providing; the core infrastructure, custody and regulatory permissions needed to build a best-in-class digital finance service. It is now a one-stop-shop for firms looking to build their own wealth management service and extend beyond the traditional high net worth (HNW) market.
The investment by ETFS Capital means development and functionality will be accelerated, while a greater number of clients are serviced. It is also a clear endorsement of the firm, its mission, technology and leadership team.
One of the largest deals in Nottingham since 2018, WealthKernel adds to a growing number of tech companies with their development teams situated within the East Midlands area alongside a London office. Operating out of the heart of Nottingham, WealthKernel continues to benefit from and contribute to the region’s tech community, attending and promoting local events that encourage growth and talent development within the local fintech community.
Karan Shanmugarajah, CEO of WealthKernel, says: "I often describe what we do as the plumbing for the wealth management companies. The current industry is built on leaky legacy pipes and that leakage directly impacts the savings and pensions of millions of people, particularly those with smaller sums of money. We started WealthKernel to make financial services better for everyday people. With ETFS Capital we are fortunate to have an investor who shares that passion and the track record to back it up.”
Graham Tuckwell, Chairman, ETFS Capital, said: “Too many people do not yet have access to credible and inexpensive investment services, because they cannot be provided efficiently enough. We believe WealthKernel has the vision and technology to change this for everyone’s benefit.”