WealthTech

The WealthTech market continues to grow at a rapid rate. The wealth management platform market is expected to grow at a 13.8% CAGR to reach $9.18bn by 2028, according to research from Insight Partners. The value of the market in 2021 was $3.71bn.

Goodvest, a sustainable investment platform, closed its crowdfunding platform on €588,739, which was more than double its original target.

Stableton Financial, an alternative investment platform, has collected CHF 15m in its Series A funding round.

UK-based FinTech company Penny has reportedly collected £4m ($4.7m) in its seed funding round, which was led by Google’s Gradient Ventures.

Swedish buy now, pay later giant Klarna has suffered a colossal downround, with its valuation dropping by 85% to $6.7bn.

BlackFin Capital Partners, a private equity and venture capital firm focusing on financial services, has closed its Tech 2 fund at €350m.

Penfold, a digital pensions platform, has launched a new crowdfunding round that it hopes to raise £5m from.

Bricknode, a SaaS financial services platform, has launched a new portfolio management software application aimed at small family offices and corporate investors.

Wave Mobile Money, a FinTech company that operates in Senegal and Côte d’Ivoire, has reportedly raised €90m debt funding.

GoHenry, a UK-based pre-paid debit card provider and financial education app for teens, has acquired French FinTech PixPay.