WealthKernel raises $7m in Series A+ funding to expand across Europe
The funding round was led by XTX Ventures to support intraday trading integration and European expansion.
WealthKernel provides digital investment infrastructure via an API to help businesses launch wealth management services. The company builds vertically integrated tech for client onboarding, brokerage, trading, and custody.
WealthKernel has raised $7m in a Series A+ funding round to support its expansion into European markets and the integration of intraday trading.
XTX Ventures led the investment round, with participation from Digital Horizon, Big Start Ventures, and existing backer ETFS Capital. This latest capital injection follows a $6m Series A round raised by the company in 2020.
The London-based startup provides embedded investing infrastructure via an API, enabling diverse firms to offer retail investment products to a broader demographic.
From the founder
"Despite its challenges, the past year has seen our business and sector thrive, demonstrating the increasing demand for investment services from businesses and their customers alike, and the growing shift to digital wealth. The new investment will help us bring our product to a wider audience and expand our platform and help us to achieve our goal of becoming the leading provider of API-based wealth and investment infrastructure across Europe."
Karan Shanmugarajah
CEO at WealthKernel
Investor perspective
"Democratising access to wealth and investment services is a purpose we understand and respect. Beyond good commercial sense, it is a game changer for the many investors denied access to such services till now."
Martyn James
Managing Director, ETFS Capital
Use of funds
- 01Continue product development
- 02Expand into international markets
Investors
Categories
About the company
WealthKernel
WealthKernel builds digital investment infrastructure via an API to help businesses launch wealth management services.