Canadian WealthTech Conquest Planning raises CAD 24m for international growth


Canadian WealthTech Conquest Planning, a technology developer on a mission to modernise financial planning through customised advice, has raised CAD 24m ($17.9m) in its Series A round.

Fidelity International Strategic Ventures served as the lead investor, with commitments also coming from existing capital partners Portage. Also joining the Series A round were first time Conquest backers BNY Mellon and Royal Bank of Canada.

With the funds, the company plans to bolster its user experience, and bolster its expansion in key markets, such as the UK and US.

Fidelity will help accelerate Conquest’s penetration of the UK market, while Portage will help to drive strong relationships, and grow locally and internationally. BNY Mellon will help Conquest foster a stronger strategic foothold in the US.

Canada-based Conquest Planning was founded in 2018 to bridge the gap between investor expectations and the technology experiences available to them. The Conquest platform simplifies the financial planning process for advisors and makes personalised planning accessible for all consumers.

Conquest claims that as recently as 2019 advisors were spending an average of 10 hours creating each financial plan. The FinTech platform helps reduce this by supplying advisors with an AI-strategic advice manager that allows them to build flexible plans quickly and with accuracy.

These plans can be tailored and modelled to a client’s changing life circumstances, objectives, priorities and risk tolerances. The Conquest platform also helps advisors and consumers understand the impact of holistic financial decisions.

Speaking on the funding round, Conquest Planning CEO Mark Evans said, “Demand for tech-enabled financial experiences, whether consumer-initiated or advisor-led, is increasing exponentially.

“We are proud to work with reputable and forward-thinking firms that recognise the scope of this opportunity. Each of our partners brings far more than capital to the table – they offer key strategic benefits that will undoubtedly prove instrumental in our efforts to scale and make a difference in people’s financial lives.”

Having partnered with tens of thousands of advisors in Canada, the company expanded into the UK and US last year.

With the close of the round, the company has raised a total of CAD 35m ($26.1m) in funding.

In other Canadian FinTech news, Vancity recently became the first financial institution in Canada to offer members a way to estimate carbon emissions from their purchases.

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