Spectrum Equity led the minority growth investment to help accelerate product development and market expansion.
"We are committed to providing our clients with market-leading services to allow them to continuously optimise their derivative portfolios to maximise returns and to efficiently meet regulatory capital requirements"
The MEIF-backed round will support the roll-out of digital tools for car dealerships.
"The shift from car sales to leasing and other market trends are driving the need for efficiencies. Our platform helps dealerships to streamline their processes, allowing them to monitor the performance of their sales and marketing operations and source the right number of vehicles to meet demand. We believe Wayroo could be a key step in building a digital ecosystem which would eventually link suppliers and transform the automotive industry."
The newly launched fintech company secured the investment from industry insiders to bring its proprietary wealth management platform to market.
"We are entering an era where wealth managers will no longer be able to rely on market appreciation to drive revenue growth. We know from first-hand experience the significant and accelerating financial and regulatory challenges faced by the wealth management industry. Firms now need to focus not only on managing their cost base but growing their revenues via enhanced client engagement."
The funding round was backed by Henley Business Angels to support team expansion and product growth.
"The problems and opportunities of giving managers and employees the tools they need to thrive are well understood and software plays a key part in the solution. The Henley Business Angels team understood the value we bring to business and their support was really useful."