Digital wealth infrastructure company WealthKernel has netted £4.5m in its Series A round from ETFS Capital.
The funds will help accelerate the development and functionality of its technology.
WealthKernel has the aim of helping companies widen access to wealth management services. The company’s API and modular architecture offers the core infrastructure, custody and regulatory permissions for establishing a digital financial service.
Tools available through WealthKernel include client onboarding, KYC, client checks, portfolio and order management, trading, custody, user interfaces and asset management.
WealthKernel CEO Karan Shanmugarajah said, “I often describe what we do as the plumbing for 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.”
Copyright © 2020 FinTech Global
