WealthKernel, a provider of digital investment services and infrastructure, has secured an investment of £6 million in a Series A extension round led by ETFS Capital.
The round also saw the participation of other prominent investors, including XTX Ventures, the venture capital arm of algorithmic trading company XTX Markets.
Wealthkernel initially raised £4.5 million for its Series A in 2020 adding a further $7.5 million in 2022.
Founded in 2015, WealthKernel provides companies with investing functionality over API, such as client onboarding, brokerage, trading, and custody.
The firm has helped the likes of Claro Money, Wahed, and Wealth8 to enter underserved areas of the wealth services market, covering areas from halal and ethical investment to ESG.
The new funding follows WealthKernel’s recent venture into US equities trading and will be used to extend its presence in the European market.
Aqsa Tariq, CFO of WealthKernel, says: “This funding comes at a time of rapid growth for WealthKernel. We have been expanding our services rapidly over the last few months, with our newest entry into the US equities market. The new funding will help fuel our commitment to strengthening our marketm presence and continue to bring innovative solutions to the wealth management industry."