Tuesday 19 September 2017 5:29 pm

Wealth manager Netwealth raises £10m in second funding round

Online discretionary wealth manager Netwealth Investments has raised £10.02m of new capital in a second funding round.

Thirteen new investors joined the 28 angels who provided the company its initial capital of £6.57m before the firm launched in May 2016, making total funds raised to date £16.6m.

New investors include: Dame Alison Carnwath, chair of Land Securities; Julian Mash, founder and chief executive of Vision Capital; David Peacock and John Weiss, co-heads of corporate credit at Cheyne Capital; and Sir Alan Parker, founder and chairman of Brunswick.

“Our growth over the past 18 months is a clear signal that cash-rich, time poor professionals are often either under-invested or unhappily invested with traditional providers,” said Charlotte Ransom, chief executive and co-founder at Netwealth.

“With this further injection of capital we are now well funded to continue to invest in and grow the business over coming years, accelerating our growth trajectory and our client base with a group of supportive and involved shareholders.”