Raises $32M in Funding, a London, UK-based online discretionary wealth manager, raised $32m in funding.

Backers included existing investors Tim Draper and Daniel Aegerter (Armada Investment Group) and new investors Carphone Warehouse founder Charles Dunstone, asset management firm Schroders and Balderton Capital.

The company intends to use the funds for customer acquisition and product development.

Founded by Nick Hungerford and William Todd, Nutmeg delivers portfolio management to anyone with as little as £1,000 to invest. The company now has over 35,000 registered users and customer acquisition in the first quarter of 2014 was 350% up on the same period last year.



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