WealthKernel Secures £6 Million Funding in Series A Extension Round

January 24, 2024

WealthKernel, a leading WealthTech firm, recently marked a significant milestone by securing a substantial investment of £6 million in a Series A extension round. Spearheaded by ETFS Capital and supported by XTX Ventures, this funding underscores the growing demand for innovative digital investment solutions.

Since its inception in 2015, WealthKernel has been at the forefront of revolutionising the wealth management landscape. By providing digital investment services and infrastructure, the company has empowered businesses to offer seamless investing experiences to their clients. Notable beneficiaries of WealthKernel's services include Claro Money, Wahed, and Wealth8, who have successfully tapped into underserved segments of the wealth services market.

The recent investment infusion arrives at a pivotal moment for WealthKernel. With plans to expand its footprint in the European market and capitalise on the burgeoning interest in investment infrastructure solutions, the company is poised for accelerated growth. Aqsa Tariq, CFO of WealthKernel, emphasises the significance of this funding, stating, "This funding round reflects the continued confidence of our investors in WealthKernel’s vision and technology."

ETFS Capital CEO Martyn James echoes this sentiment, highlighting the firm's commitment to supporting WealthKernel's expansion efforts. "The demand for innovation in the wealth and asset management industry has never been higher, which WealthKernel is perfectly placed to deliver," James remarks.

Indeed, WealthKernel's innovative approach to digital investments has garnered widespread acclaim. By leveraging advanced technology, the company enables wealth managers and advisors to streamline client onboarding, brokerage, trading, and custody processes. This not only enhances operational efficiency but also enables firms to offer a diverse range of investment options, including halal, ethical, and ESG-compliant investments.

Karan Shanmugarajah, CEO of WealthKernel, emphasizes the company's dedication to driving continuous innovation. "We have been expanding our services rapidly over the last few months, with our newest entry into the US equities market," Shanmugarajah explains. "The new funding will help fuel our commitment to strengthening our market presence and continue to bring innovative solutions to the wealth management industry."

As WealthKernel sets its sights on scaling its operations and reaching new markets, the investment from ETFS Capital and XTX Ventures serves as a testament to the company's potential. With a clear focus on delivering value to both clients and investors, WealthKernel is poised to redefine the future of digital investing. As the company continues to innovate and expand its offerings, the wealth management industry can expect to see exciting developments that empower investors and drive sustainable growth.