Digital wealth and tech supplier WealthKernel has raised a £6m extension to its Collection A funding spherical.
The funding was led by ETFS Capital, which has backed WealthKernel since 2018, with further participation from XTX Ventures.
With this further capital, WealthKernel says it’s going to strengthen its presence within the wealth administration and advisor markets, with a transfer into Europe the place there may be demand for funding infrastructure options.
“This funding comes at a time of fast development for WealthKernel,” Karan Shanmugarajah, CEO of WealthKernel, mentioned.
“We’ve got been increasing our companies quickly over the previous few months, with our latest entry into the US equities market.”
In December WealthKernel added US fairness buying and selling to the listing of companies it provides, placing it in direct competitors with the likes of main US wealthtechs like DriveWealth and Alpaca.
WealthKernel first raised £4.5m in 2020 for its Collection A led by ETFS Capital and later prolonged this with $7m in 2022 led by XTX Ventures.
“The brand new funding will assist gas our dedication to strengthening our market presence and proceed to carry modern options to the wealth administration trade,” added Shanmugarajah.
WealthKernel is a portfolio firm of ETFS Capital, the proprietor of AltFi and ETF Stream.
