Profile Financial Solutions raises £1.3m in Series A funding led by Smedvig Capital
Smedvig Capital leads the Series A round to accelerate growth and expand operations at Profile Financial Solutions.
Profile Financial Solutions provides technology-led independent financial advice to the mass market. The firm focuses on pension management with low investment thresholds.
Profile Financial Solutions has raised £1.3m in a Series A funding round led by Smedvig Capital. The investment will be used to advance the company technology platform and expand its operations to meet growing demand for pension advice.
Founded in 2013, the company manages over £125m in pension assets. Its proprietary model enables advisers to offer affordable independent financial advice to lower and medium net worth individuals.
The fresh capital will support a move to larger premises to accommodate a growing team. The funding arrives as the UK pensions market prepares for regulatory changes.
From the founder
"Consumers are currently under serviced by the traditional IFA market, meaning that millions are unable to receive independent advice. We hope that by combining accessible technology with great customer service we can fix this problem. The investment from Smedvig will enable us to improve our digital capability and fund our expansion to meet the increasing demand for our services. With major changes to pensions just around the corner, we’re looking forward to welcoming many more clients to Profile and helping make their money go further for them."
Ian Floyed
CEO and Managing Director at Profile Financial Solutions
Investor perspective
"We are delighted to be backing Ian and Steve for a second time. As with their previous business myhomemove, they are using technology to transform a poorly served industry. Profile is only 18 months old and is already growing rapidly with more than £125m assets under management. By applying a proprietary process-led approach, Profile is able to provide the mass-market with affordable and genuinely independent financial advice which they have not had access to up until now"
Jordan Mayo
Managing Director, Smedvig
Use of funds
- 01Continue product development
- 02Scale operations
- 03Grow the team
Investors
Categories
About the company
Profile Financial Solutions
Profile Financial Solutions provides independent financial advice to the mass market.