UK-based fintech firm Nutmeg announced on Wednesday it is planning to launch a crowdfunding round this upcoming summer through equity crowdfunding platform, Crowdcube. This news comes just a couple of months after the company secured £45 million through its latest funding round, which was led by Goldman Sachs and Convoy.
As previously reported, Nutmeg is described as the UK’s first online “discretionary investment management company.”
“Nutmeg is changing the way people manage their money. Specializing in investments, ISAs and pensions, our online investment management service is intelligent, straightforward and fair.”
While sharing more details about the upcoming crowdfunding efforts, Martin Stead, CEO of Nutmeg, stated:
“Nutmeg was the first digital wealth manager to launch in Europe and now we’re opening up ownership of our business to give eligible customers the opportunity to invest alongside institutional investors, venture capitalists and leading entrepreneurs. This is an incredibly exciting time for Nutmeg, we continue to welcome new customers: both seasoned investors seeking a high-quality wealth management service at a much lower cost; and first-timers, attracted by intuitive technology and a team of investment experts that will manage their portfolios for them. We’re investing in new features for our UK customers, while also taking Nutmeg to new markets around the world, with our first international launch imminent.”
Luke Lang, Co-Founder of Crowdcube, also commented:
“Nutmeg is a business with a deep sense of purpose – they’re tackling everyday problems and challenges that will resonate with many of our investors. It remains our mission to help nurture the growth of innovative businesses and we’ve no doubt the campaign will be a real success.”
Stead went on to add:
“We’ve come a long way since we launched in 2012. We’ve grown from a trailblazing start-up to a full-scale digital wealth manager. Now, we want to give eligible Nutmeg customers the chance to share in our success – it’s the least we could do, since they’re the reason we’ve got this far.”
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