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Hot on the heels of eToro’s Spaceship acquisition, Revolut has entered the race with a similar product launch. Europe’s most valuable fintech has expanded its €8.5 billion wealth offering by launching a standalone app, Revolut Invest, to capture the retail investor market by targeting new customers beyond the existing banking app.   Revolut’s goal of becoming a "truly global bank" puts pressure on other trading and investing platforms by expanding its wealth management and in

eToro announced last week that it has acquired Spaceship, an Australian investing app, in a deal worth up to $80 million AUD. This...

Morgan Stanley announced that Revere , an AI-powered platform for managing alternative asset portfolios, has joined its 10th cohort in...

Cerity Partners announced last week that it is acquiring Touchdown Ventures, a leading provider of advisory services for corporate...

https://www.wealthtechstrategy.com/post/robinhood-acquires-pluto Robinhood announced last week that it has acquired Pluto Capital, an...

WealthOS , a London-based WealthTech startup that provides a modular platform for building wealth management apps, announced that it has closed its £4mm Seed round. The round saw heavy participation from Barclays and is another example of a financial services firm making a minority investment in solutions that solve known pain points. In fact, it is fair to say that Barclays is out ahead of the pack on the corporate venture capital front as it is not only an active investor,

Egyptian financial conglomerate EFG Hermes, the largest brokerage firm in MENA, amongst other things, has made a minority investment in...

Archive Intel, a firm founded by industry veteran Larry Shumbres to combine communication archiving and compliance screening, announced that they raised a $1mm Seed Round from early-stage VC fund Social Leverage. From our standpoint, it's nice to see a VC stepping up and sole-funding a WealthTech startup. Hopefully, that is another signs of a thaw in the funding market. Of course, it also probably helps that it solidly falls into one of our thesis opportunities for WealthTech

Altruist, the RIA custodian challenger built on modern technology, announced yesterday that they had raised $169mm in a Series E round valuing the company at $1.5B+. This crosses them over into "Unicorn" territory after narrowly missing last year with a Series D valuation of reportedly $962mm. So with $450mm of funding raised, a $1.5b valuation in about 6 years, and having reportedly grown revenue by 550% last year, it is worth pausing to look at what is going on here. Withou

Midas, which is a Turkish version of Robinhood, announced that they have raised a $45mm Series A round, claiming it to be the largest early stage fintech funding round in Turkey to date. The round was lead by Portage, a Toronto VC firm, and had participation from 5 other venture capital firms, which is a nice sign. The round builds on their $11mm Seed round in 2022. This perhaps illustrates a theme we have been watching: growth of robo advice and investor self-service in geog

iCapital, an alternative investment platform for the wealth management industry, announced that they will acquire Mirador, a data...

NewRetirement, a comprehensive financial planning and financial wellness platform serving individuals and enterprise clients, announced that it has raised $20mm in a Series A funding round. The round was lead by existing investor Allegis Capital and quite a few other VCs, some of which are new faces to NewRetirement, from what we can tell. We like seeing that. Several Corporate Venture Capital arms also participated, namely Nationwide Ventures and Northwestern Mutual Ventures

Belong, a UK-based personal savings and investing app, emerged from stealth mode and announced that they have raised a $3.7mm Pre-Seed funding round. That appears to be quite sizeable compared to the typical pre-seed raise, which is usually around $500,000 (1) . In fact, it is reportedly "the largest such round ever secured by female founders in Europe" (2) . The deal was lead by Octopus Ventures and joined by several prominent industry figures. We have not seen the platform

Copilot Money, a personal financial management app similar to the old Mint.com, has raised a $6mm Series A round led by Adjacent. Prior to the Series A, Copilot had raised an undisclosed amount in a Seed round, but since it was undisclosed, we feel it might not have been very much. All the better for them. This perhaps raises awareness for a branch of WealthTech that we don't talk about much: personal financial management. I programmed my first personal accounting system back

Apex Fintech Solutions announced that they have acquired AdvisorArch, a WealthTech company that enables automated rebalancing and direct...

Wealthfeed is a platform that uses AI to try and identify which of an advisor's clients and prospects are experiencing a "Money in Motion" event. Examples might be inheritance, sale of a home, or sale of a business. It fits in with our AI WealthTech theme which we call "CoCoDec," which is by no means a catchy name, but it is shorter than "Compliance, Communication, Data Enrichment and Cleaning." By reaching out during a money in motion event, the company claims that closure

MSCI announced that it has acquired Foxberry, an index creation and analysis platform with a modern user interface. Many WealthTech...

Today saw another example of a strategic investment in the wealthtech space.

OneAdvisory, a firm that provides unified data management for wealth management firms, announced that they closed an $8mm Seed round lead by F-Prime. Amongst the new faces in the round were Valor Equity Partners and two strategics, The Compound Capital Fund I (Ritholtz) and Flyover Capital (Mariner). This is perhaps an extension of the theme of strategics making minority investments in the tools that they feel can solve pain points that they themselves have. Makes perfect sen

Vestwell raised $125mm in a Series D to continue it's mission to close the savings gap for Americans. Although the release did not give a valuation, Bloomberg is reporting that people familiar with the transaction estimate it to be around $1 billion (1) . They have raised approximately $240mm to date according to Crunchbase, so the valuation is not a stretch given the market penetration they have been able to achieve. If true, it would be one of the few WealthTech unicorns ou