WealthKernel, a leading provider of digital investment services and infrastructure, announced that it has successfully secured an investment of £6 million in a Series A extension round. The round was led by ETFS Capital, with participation from other prominent investors, including XTX Ventures, the venture capital arm of algorithmic trading company XTX Markets.
Funding History of WealthKernel
WealthKernel’s journey to this significant investment began in 2020 when the company first raised £4.5 million for its Series A. Building on the momentum, the firm added a further $7.5 million in funding in 2022, demonstrating the growing interest and confidence in its innovative investment solutions.
Description of WealthKernel’s Services
Founded in 2015, WealthKernel provides companies with a comprehensive suite of investment functionality via API. This includes client onboarding, brokerage services, trading solutions, and custody services. By offering these services, WealthKernel enables businesses to seamlessly integrate investment functionalities into their platforms, delivering a cohesive and user-friendly experience for their clients.
WealthKernel has been instrumental in helping companies expand into previously underserved areas of the wealth services market. Partnering with WealthKernel has allowed companies like Claro Money, Wahed, and Wealth8 to enter new markets and cater to diverse investor needs. The firm’s expertise extends to sectors such as halal and ethical investment, as well as environmental, social, and governance (ESG) investing.
Purpose of the New Funding
With the latest funding secured, WealthKernel is primed to further extend its presence in the competitive European market. The company has consistently demonstrated its commitment to offering cutting-edge investment solutions, and this investment will help fuel its expansion plans. Moreover, WealthKernel recently ventured into the US equities trading sector, which is a significant milestone in its growth trajectory. The new funding will play a crucial role in supporting and accelerating this expansion into the American market.
Quotes from Aqsa Tariq, CFO of WealthKernel
Aqsa Tariq, the Chief Financial Officer of WealthKernel, expressed her excitement about the recent funding and the company’s rapid growth. She said, “This funding comes at a time of rapid growth for WealthKernel. We have been expanding our services rapidly over the last few months, with our newest entry into the US equities market. The new funding will help fuel our commitment to strengthening our market presence.” Tariq emphasized that WealthKernel’s dedication to delivering innovative solutions to the wealth management industry remains a key focus. The company’s relentless pursuit of innovation has positioned it as a key player in driving positive change and transformation within the industry.
WealthKernel’s successful Series A extension round, led by ETFS Capital, marks an important milestone in its growth journey. With a solid funding history and a robust suite of investing functionalities, WealthKernel empowers companies to leverage its APIs and seamlessly integrate investment services into their platforms.
The new funding will enable WealthKernel to expand its footprint in the European market and accelerate its growth in the US equities trading sector. As Aqsa Tariq highlighted, this investment will be pivotal in strengthening WealthKernel’s position in the industry and continuing to drive innovation in the wealth management space.