OneVest, a Calgary, Alberta and Toronto, Canada-based provider of an embedded wealth management platform serving fintechs, digital banks and financial institutions, raised CAD$5M in funding.
The round was led by Luge Capital, with participation from OMERS Ventures, AAF Management, FJ Labs, National Bank of Canada, NAventures, Panache Ventures, and strategic angels. As part of the round, Karim Gillani, former PayPal executive and current General Partner of Luge Capital, will join the OneVest board. Atul Tiwari, former CEO of Vanguard Canada, will become a strategic advisor to the company.
The company intends to use the funds to expand the team, grow sales and drive product development.
Founded by Amar Ahluwalia, Jakob Pizzera and Nathan Di Lucca, OneVest is a financial technology company dedicated to innovating wealth management. The company offers an embedded Wealth-as-a-Service (WaaS) platform that allows any enterprise to offer personalized investment portfolios via an API. This enables consumer fintechs, credit unions, traditional banks and wealth management firms to offer a digitally-native user experience for personalized wealth management to their end customers that can be launched in a few weeks.
OneVest’s technology integrates with a variety of fintechs and financial institutions, enabling them to bundle personalized wealth and investing capabilities with other financial products.