Sidekick Raises $10.6 Million to Expand Personal Investing Platform
- Kendrick Wakeman, CFA
- 6 hours ago
- 2 min read
The London-based wealth technology firm Sidekick has secured approximately $10.6 million in Series A funding to scale its digital investment platform for mass affluent professionals. This capital injection was led by Eos Ventures and the Development Bank of Wales with participation from several existing backers including Seedcamp and MS&AD Ventures. Sidekick aims to bridge the gap between entry level retail apps and traditional private banks by offering sophisticated financial tools to individuals whose assets have outgrown basic services.
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Sidekick provides a suite of advanced features including personalized portfolios and access to private market opportunities that were previously reserved for the ultra-wealthy. A key differentiator for the platform is its Lombard lending product, which allows eligible customers to borrow against their investment portfolios to access liquidity without selling their assets (US equivalent of margin). The company also offers a multi-bank cash management solution designed to optimize deposit protection for users holding larger cash balances.
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Under the leadership of founder and chief executive officer Matt Ford the company currently manages over $185 million in total assets across its customer base. The new funds will be used to accelerate product development and support a significant team expansion including the establishment of a new operational hub in Cardiff. This expansion is part of a broader mission to democratize access to high end wealth management strategies while maintaining a digital first approach to transparency and control.
Knote: Instead of marketing their personal trading and investing app to the entry-level investor, Sidekick looks to service more sophisticated investors by offering things like private assets, customized indexing, margin, and cash management (bank slicing). It’s an interesting point of differentiation, in my view.