WealthOS, the cloud-native wealth management infrastructure platform provider, has announced the successful closure of its seed round, raising £4m.
The funding round was led by Barclays Bank, with additional investment from Main Set, part of international investment firm Capricorn Capital Partners UK.
The investment includes £2m raised in the final closing, adding to the £2m already invested by Barclays and other leading FinTech investors such as Chris Adelsbach, Mike O’Brien, John Donohoe, and John Herlihy in late 2023.
WealthOS specialises in developing advanced wealth management solutions that allow organisations to offer omni-channel wealth management products to clients quickly and cost-effectively. The company will use the new funding to further develop its platform, increase distribution, and scale the organisation to support its strong client pipeline.
WealthOS plans to leverage the investment to enhance its technological capabilities and expand its market reach, ensuring it can meet the growing demand for digital wealth management solutions.
WealthOS CEO and founder Anton Padmasiri said, “I couldn’t have asked for a better group of investors – all of whom have been incredible cheerleaders for our mission to modernise the wealthtech space. I am excited to demonstrate to the market how we will not only enable organisations to offer incredible, omni-channel wealth management products to clients, but to do so at high speed and with cost efficiency.”
Andrew Challis, co-head of principal investments at Barclays, said, “We’re very pleased to have invested in WealthOS at the start of their journey. They are a talented team and have leveraged the investment to achieve early commercial success.”
He added, “Our ongoing investment with WealthOS demonstrates our commitment to opportunities arising from our Rise Growth Academy and aligns with Barclays’ Innovation Thesis. WealthOS has an impressive proposition in the digital, wealth management space. I look forward to seeing their future endeavours coming to fruition, celebrating new milestones, and seeing our return on investment.”
This funding news follows WealthOS’s release of the UK’s first and only cloud-native and API retail pensions (SIPP) technology. Additionally, WealthOS has been chosen by Quai Digital as its new strategic technology partner. Quai Digital, a prominent provider of B2B wealth management white-label outsourcing services, will leverage WealthOS’s composable software to integrate with its proprietary platform. This partnership aims to foster growth by delivering scalable, feature-rich digital financial capabilities to Quai Digital’s clients.
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