BITE Investments has made significant progress in 2020 despite the challenges posed by the coronavirus pandemic.The young fintech company, founded in 2019 by William Rudebeck and Henry Talbot-Ponsonby, is focused on facilitating meaningful alternative investment opportunities and private market strategies for those looking to diversity their investment portfolios, across the high-net-worth investors (HNWIs) and wealth management market.
The company is also on a mission to help digitalise the industry by providing specialist alternative market technology and fund solutions to wealth managers and other financial institutions. BITE has already established a presence in several major markets across Asia, Europe and the US, built a strong management team, and forged several key relationships enabling it to provide enhanced solutions to the growing asset and wealth management market.
Rudebeck says: “Despite the extreme challenges faced this year, caused by the global pandemic, BITE has fortunately been able to implement its strategic business plan which focuses on the digitalisation of the wealth management industry and the increasingly important role that alternative assets play in this highly volatile and low interest rate environment.”
While the pandemic had much of the globe in a lockdown at the time, on 1 April, 2020, BITE successfully completed its pre series A funding round corner-stoned by the Apex Group and VCP Advisors. This followed its pre-seed funding round back in October 2019, led by VC’s Delta Capital, Click Ventures and VCP. Subsequently, on 13 May, 2020, BITE and Apex announced their partnership to deliver new solutions to the Asian asset management market. BITE and Apex see their alliance as a way to better capitalise on two market dynamics: the shift of HNWIs toward online wealth management solutions and portfolio diversification using alternative assets, as well as the large untapped and underserved Asia-Pacific (APAC) market. There is also the heightened awareness of investors that other asset classes should be considered as viable alternatives to traditional asset classes.
The Apex partnership is not the only one forged by BITE in 2020. The company has gained the confidence of several top-tier fund managers including Goldman Sachs, KKR, Carlyle, Endeavor Vision and Greenspring Associates. Furthermore, BITE expects to be announcing other notable partners early in 2021.
In addition, and toward attesting to its high standards of operations and commitment to serving in the best interests of investors, the BITE Investments App is now live on Google Play Store (Android) and the App Store (iOS).
Looking ahead to 2021, BITE Co-Founder Talbot-Ponsonby, says: “We are confident that our business model, which relies on the experience of our high caliber team, high quality investments, best in class processes, due diligence, and advanced online financial technologies, will drive our steady growth and sustainability in the years ahead.”