£4.5m funding for WealthKernel
WealthKernel has secured £4.5m funding.
The digital wealth infrastructure and technology provider has been backed by ETFS Capital in a Series A round.
The London firm has a proprietary API platform and modular architecture approach and describes itself as a ‘one-stop-shop for firms looking to build their own wealth management service and extend beyond the traditional high net worth market’.
Karan Shanmugarajah, CEO of WealthKernel, said: “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, added: “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.”