Nutmeg, a London, Uk-based wealth management company, raised £30m in funding*.
Backers included new investor Convoy, a Hong Kong listed firm of independent financial advisers, as well as existing backers Schroders, Balderton Capital, Pentech, Armada Investment Group and Nigel Wray. In conjunction with the funding, Johnny Chen from Convoy will join Nutmeg’s board.
The company intends to use the funds to expand the product offering across the UK.
Led by Martin Stead, CEO, Nutmeg is a digital wealth manager specializing in investments, ISAs & pensions. It now manages over half a billion pounds for over 20,000 customers.
* The funding is subject to FCA approval