Third Financial secures £7m Series A follow on investment from Grafton Capital
Grafton Capital has secured a majority position in Third Financial following a £7m investment.
Third Financial provides investment platform and software services that power wealth managers, financial advisers, and fintech firms. The company combines integrated portfolio management software with efficient custodial and outsourcing operations.
Private equity firm Grafton Capital has invested £7m into Third Financial in a Series A follow on transaction that secures majority ownership for the backer. The funding includes £1.5m of fresh capital injected onto the balance sheet to strengthen financial resilience and support the expansion of the software and outsourcing platform. This transaction follows previous investments by Grafton Capital in 2015, 2016, and 2019.
Third Financial provides core technology and custody infrastructure for UK wealth managers, IFA networks, family offices, and fintech firms through its Tercero system and integrated platform. The company plans to use the new backing to accelerate growth and meet increasing demand across the market.
From the founder
"Our vision for the company is to be the go-to provider of technology and custody services for investment firms. While the backbone of our operation is the servicing of traditional wealth managers and advisers, there is also a huge appetite from a raft of exciting fintech companies that require back-end operations, custody and infrastructure to help them bring their innovations to market. Our FCA-regulated service gives all of our customers a cost-effective and holistic solution which is continually updated with new features in response to client needs."
Ian Partington
Group Chief Executive Officer at Third Financial
Investor perspective
"We have a long-standing history with the team at Third Financial, dating back to 2015. Since its launch, the platform has been achieving steady annual growth of 40 to 50 per cent, and more recently has done so whilst maintaining profitability – pretty impressive in this economic climate. This investment is about backing Ian and his team to continue on this path of profitable growth. We are confident in the trajectory and the opportunity to serve more great businesses with Third Financial’s market leading infrastructure platform."
Edward Barroll Brown
Founder and Managing Partner, Grafton Capital
Use of funds
- 01Build out infrastructure
Investors
Categories
About the company
Third Financial
Third Financial provides investment platform and software services for wealth managers and fintech firms.