Zephyrnet-logo

Digitaal investeringsplatform WealthKernel haalt $ 7 miljoen aan financiering binnen

Datum:


Digital investment services and infrastructure company RijkdomKernel verzekerd van $ 7 miljoen in Series A + financiering to start the week. The round was led by XTX Ventures and featured participation from Digital Horizon, Big Start Ventures, and ETFS Capital. The U.K.-based company said that it will use the capital to fuel expansion across Europe.

“I’m incredibly excited to take this next step in WealthKernel’s journey,” WealthKernel CEO Karan Shanmugarajah said. “Our investors’ backing will not only help us bring our product to a wider audience and expand our platform, but also achieve our goal of becoming the leading provider of API-based wealth and investment infrastructure across Europe.”

WealthKernel offers businesses the building blocks they need to power their digital investment offering. From client onboarding and trading to portfolio management and custody, WealthKernel enables neobanks, roboadvisors, PFM apps, and embedded finance platforms to focus on building their brand and customer experience while leaving the heavy lifting to WealthKernel’s all-in-one investing API.

“We often describe what we do as the plumbing for wealth management companies,” Shanmugarajah explained. “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. Our mission is to enable the change that makes financial services and investing better for everyday people.”

This week’s Series A+ round is an extension of the company’s $6 million Series A round from 2020. In addition to supporting the company’s growth plans in Europe, the funding will enable WealthKernel to expand its investing infrastructure to accommodate intraday trading, as well. The company currently has $13.9 million in total equity funding according to CrunchBase.

A leading embedded investing solution provider in the U.K., WealthKernel’s platform supports more than 100,000 transactions a month, and more than 72,000 trades per month are executed using its technology. The company’s clients include U.K.-based financial coaching app Claro Money, Sharia-compliant ethical investment platform Wahed, and wealth management service provider Rosecut. More recently, WealthKernel has forged partnerships with GOODFOLIO, an ESG-based investment platform, and investment app Stratiphy, which offers personalized investment and trading strategies. WealthKernel was founded in 2015.


Foto door Todd Trapan oppompen van Pexels

Source: https://finovate.com/digital-investment-platform-wealthkernel-secures-7-million-in-funding/

spot_img

Laatste intelligentie

spot_img