UK-based FinTech Stubben Edge Group has raised £5.6m in an oversubscribed funding round on its mission to help brokers and Independent Financial Advisors (IFAs) digitise their businesses.
The rounds sees Stubben Edge reach a pre-money valuation of £175m and also represents a 75% uplift on its previous fundraise.
Cornerstone investors included several Lloyd’s names including Nigel Wray, Dowgate Wealth, family offices, institutional investors and other HNW investors.
Stubben Edge Group is a UK FinTech company specialising in creating innovative products and technology for the financial services and insurance industries.
The company has developed a distribution portal that is the only single, networked system for Independent Financial Advisers (IFAs), brokers and Appointed Representatives (ARs) looking to really grow their businesses.
With a private client heritage and backed by Lloyd’s Names, the group is continuing to expand to building systems, technologies, and cutting-edge analytics.
Chris Kenning, CEO of Stubben Edge, said, “In the context of the wider economic climate and decreasing confidence in the FinTech market, this fund raise is testament to the strength of our business.
“In 2023 our ambition continues to be to support the entrepreneurs and owners of brokers and IFAs. Helping them build their businesses by providing the technology, data and products that will enable them to service their SME clients more efficiently, cost-effectively, wherever, and whenever their clients want to engage.”
Stubben Edge’s previous funding round took place in September 2022, in which it raised £5.6m in additional funding following its £10m investment in September 2021.
In December last year, Stubben Edge acquired Insurercore, a tech enabled distribution platform headquartered in London.
David Poutney, chief executive of Dowgate Capital, added,“We were delighted to participate in Stubben Edge’s fundraise once again. The company’s phenomenal growth in 2022, in the current difficult economic climate, showcases that Stubben Edge has an enormous growth potential.”
Copyright © 2023 FinTech Global
