WealthKernel, the AWS of wealthtech, is a fast-growing UK-based digital wealth infrastructure and technology provider. They have secured £4.5 Million (US$6 Million) in Series A funding from ETFS Capital to democratise wealth management.
Widening access to wealth management
Their aim is to enable companies to innovate and widen access to wealth management services for a broader universe of people.
WealthKernel, via its proprietary API platform and modular architecture approach, is providing; the core infrastructure, custody and regulatory permissions needed to build a best-in-class digital finance service.
It is now a one-stop shop for firms looking to build their own wealth management service and extend beyond the traditional high net worth (HNW) market.
The investment by ETFS Capital means development and functionality will be accelerated, while a greater number of clients are serviced. It is also a clear endorsement of the firm, its mission, technology and leadership team.
"I often describe what we do as the plumbing for wealth management companies. The current industry is built on leaky legacy pipes and that leakage directly impacts the savings and pensions of millions of people, particularly those with smaller sums of money. We started WealthKernel to make financial services better for everyday people. With ETFS Capital we are fortunate to have an investor who shares that passion and the track record to back it up.”
Karan Shanmugarajah, CEO of WealthKernel
“Too many people do not yet have access to credible and inexpensive investment services, because they cannot be provided efficiently enough. We believe WealthKernel has the vision and technology to change this for everyone’s benefit.”
Graham Tuckwell, Chairman, ETFS Capital