Nutmeg has received 12 million British pounds ($14.74 million) in capital from investor Taipei Fubon Bank; the 12 million British pound fundraise follows a Series C fundraising round in November led by Convoy Global Holdings; the funding will help to support the firm's rapid growth; assets under management for its robo advisor service have been increasing significantly and are now at approximately 600 million British pounds ($736.85 million); success has been driven by demand for its discretionary investment management service which also offers low fees. Source
Fintech companies around the world are receiving huge funding rounds at sky high valuations; Goldman Sachs’ Principal Strategic Investments Group...
The UK’s biggest robo-advisor has seen assets under management grow to over $798mn and customers exceed 25,000 at the end of 2016; however the company also reported a 5 percent increase in losses and a 10 percent increase in operating expenses; building up scale to eventually make money looks to be the biggest challenge for the growing fintech company. Source.
The UK-based, wealth management company, raised £30 million to help expand their product offering across the UK; investors include Convoy, a Hong Kong-listed firm of independent financial advisers, as well as existing backers Schroders, Balderton Capital, Pentech, Armada Investment Group and Nigel Wray; the funding is subject to the approval of the Financial Conduct Authority. Source
UK based digital wealth management firm Nutmeg is launching a crowdfunding campaign as they eye international expansion; funds will be...
UK based digital wealth manager Nutmeg has raised $59mn from a group of investors including Goldman Sachs and Hong Kong...
Nutmeg will offer clients five portfolio options with automated rebalancing to client risk profiles; platform is also updating its fees to a two tiered fee structure; new fees are 75 bps on the first 100,000 British pounds ($120,310) and 35 bps on anything above that; the individual investment strategies also include fees ranging from 13 to 22 bps; the changes follow private market capital investment of 42 million British pounds ($50.53 million) in 2016. Source
Lisa Caplan from Nutmeg provides insight on investing in individual savings accounts (ISAs); reports on six myths that keep UK investors from investing in ISAs; notes the tax free advantages of investment in ISAs up to the allowance limit of 15,240 British pounds ($18,588) and the allowance limit increase to 20,000 British pounds ($24,394) beginning in April. Source