Wealth-X, a Singapore-based provider of sales, marketing, and compliance solutions to companies and not-for-profit organizations targeting the ultra high net worth (UHNW) market, received a major investment from Insight Venture Partners.
The amount of the deal was not disclosed. In conjunction with it, Euan Menzies and Matthew Gatto from Insight Venture Partners, have joined Wealth-X’s board of directors.
The company intends to use the funds to expand global operations including sales and marketing, invest in product innovation and further evaluate strategic acquisition opportunities.
Founded in 2010 by chief executive officer Mykolas Rambus and president and global head of sales and client development David Friedman, Wealth-X provides financial institutions, luxury brands and not-for-profit organizations with intelligence and prospecting platform with a large collection of curated research on ultra high net worth (UHNW) individuals, defined as those with net assets of US$30 million and above.
The company has more than 200 employees in 13 offices on five continents.