WealthKernel, a pioneering WealthTech firm, has recently announced a significant milestone in its financial journey. The company successfully secured an investment of £6m in a Series A extension round.
This funding round was spearheaded by ETFS Capital, a notable name in the investment community. Additionally, the round witnessed the participation of XTX Ventures, the venture capital branch of the esteemed algorithmic trading entity XTX Markets.
At its core, WealthKernel is a provider of cutting-edge digital investment solutions. The firm prides itself on its robust technology platform, designed to cater to the intricate needs of the wealth management and advisor market segments. With its innovative approach, WealthKernel is redefining the landscape of digital investments, offering comprehensive and efficient solutions to its clientele.
This fresh injection of capital comes at a crucial juncture for WealthKernel. The company has laid out ambitious plans to broaden its market reach, with a specific focus on fortifying its presence within the wealth management and advisor sectors. Furthermore, this year marks a pivotal point for the firm as it aims to establish a robust foothold in the European market, responding to the surging demand for sophisticated investment infrastructure solutions.
Reflecting on this momentous occasion, ETFS Capital CEO Martyn James conveyed his enthusiasm, stating, “We are pleasedto provide further funding to WealthKernel. Having seen the business grow from strength to strength since we first invested in 2018, we look forward to supporting Karan and team as they continue this expansion into Europe. The demand for innovation in the wealth and asset management industry has never been higher, which WealthKernel is perfectly placed to deliver.”
Echoing this sentiment, Karan Shanmugarajah, CEO of WealthKernel, remarked, “This funding comes at a time of rapid growth for WealthKernel. We have been expanding our services rapidly over the last few months, with our newest entry into the US equities market. The new funding will help fuel our commitment to strengthening our market presence and continue to bring innovative solutions to the wealth management industry.”
Adding to the chorus of optimism, Aqsa Tariq, CFO of WealthKernel, expressed her excitement about the successful completion of the funding round. “I’m very excited about the successful completion of the funding round. This funding round reflects the continued confidence of our investors in WealthKernel’s vision and technology. We are determined to make ‘wealth and investing’ easily accessible to everyone. As we continuously improve and strengthen our platform, we embark ourselves and the wider wealth management market on a route of long-term sustainable growth.”
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