Bringing you live news and features since 2006 

Netwealth raises a further GBP10.2m of capital

RELATED TOPICS​

Online discretionary wealth manager Netwealth Investments Limited, has completed a second round of capital subscription, raising and additional GBP10.02 million.

Some 13 new investors joined the 28 angels who provided initial capital of GBP6.57 million pre-launch, resulting in total funds raised to date of GBP16.6 million.
 
Charlotte Ransom, Chief Executive and co-founder of Netwealth, says: “We are delighted that the vast majority of our existing shareholders are backing us in this second round, having experienced the business rollout over the last 18 months. We are also excited to have thirteen new shareholders who all share our vision of how Netwealth can bring important changes and improvements to the discretionary wealth management market.”
 
“Our growth over the past 18 months is a clear signal that cash-rich, time poor professionals are often either under-invested or unhappily invested with traditional providers. Our core demographic is 40-60 year old professionals who appreciate the benefits of a technology-enhanced service where they still have access to advisers if needed. This explains why the average account size is more than GBP300,000 with a significant proportion invested in SIPPs and ISAs. Many clients have also included parents and children in their Netwealth Network.”
 
“With this further injection of capital we are now well funded to continue to invest in and grow the business over coming years, accelerating our growth trajectory and our client base with a group of supportive and involved shareholders.”
 
New investors in Netwealth include Dame Alison Carnwath, chairman of Land Securities; Julian Mash, founder and chief executive of Vision Capital; David Peacock and John Weiss, co-heads of corporate credit at Cheyne Capital; and Sir Alan Parker, founder and chairman of Brunswick.
 
Edward Bonham Carter, vice chairman of Jupiter Fund Management plc, who invested in both rounds of Netwealth’s capital raising, says: “Netwealth has successfully positioned itself in the discretionary wealth management and advice market. I am optimistic about their potential for continued growth and further success in the years to come.”

Latest News

Saving and investing app, Moneybox, has doubled the number of ETFs available on the platform, in the light of ‘growing..
Global X ETFs has announced the appointment of Ryan O'Connor as its Chief Executive Officer effective as of April 8, 2024. ..
Value-driven structured credit investing firm, Angel Oak Capital Advisors, LLC, has announced the completed conversions of two of its mutual..
Confidence in the continuing strength of bitcoin and Ethereum is driving wider interest in altcoins and other digital assets, according..

Related Articles

Frank Koudelka, State Street Global Services
ETF data provider and ETF Express data partner, Trackinsight, has published its Global ETF Survey 2024 Report: ‘50+ Charts on...
Cryptocurrencies
Matteo Greco, Research Analyst at Fineqia International writes that bitcoin (BTC) ended the week at approximately USD52,150, showing a notable...
US Distribution Awards trophies
The winners of the first US ETF Distribution Awards at the Exchange conference, hosted by ETF Express and sponsored by...
Thomas Bonville, Clear Street
Just over a year ago, Thomas Bonville joined New York-based, prime brokerage Clear Street as managing director, head of derivative...
Subscribe to the ETF Express newsletter

Subscribe for access to our weekly newsletter, newsletter archive, updates on the site and exclusive email content.

Marketing by