UK-based WealthTech company Fundment, pioneered by former BlackRock and abrdn asset manager Ola Abdul, has successfully secured £45 million in Series C funding.
Established in 2018, Fundment offers a unique technology platform that combines essential services, back-office solutions, investment management tools, and intuitive portals, providing advisers with a comprehensive solution to manage and oversee their investment processes securely. The platform also supports tax wrappers and enables custom integrations through personalized APIs.
Fundment’s marketplace grants access to an extensive variety of investments from top firms like Legal & General, BlackRock, and HSBC, including OEICs, Unit Trusts, Investment Trusts, ETFs, and both domestic and international equities.
Currently, the firm caters to over 500 clients, ranging from independent traders to wealth management organizations serving high-net-worth individuals. With the UK government planning significant changes to the public pension system, Fundment is also collaborating with local authorities and their advisers to ensure the public sector benefits from modern technological solutions akin to those available in the private sector.
Ola Abdul, the founder and CEO of Fundment, stated, “Navigating the financial advice landscape is challenging due to stringent regulations, making it tough for fintech platforms to succeed unless they fully grasp operational management for their customers. Over the past six years, we have developed Fundment as a comprehensive tech solution to fulfill all the requirements of financial advice firms, allowing them to focus on providing exceptional value to their clients. I’m thrilled to have the support of Highland Europe and am eager to collaborate with their expert team as we grow Fundment.”