New investment to support WealthKernel’s growth strategy into the European and advisormarket segments

London, 24th January, 2024: WealthKernel, a wealthtech provider of digital investment solutions, today announces that it 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 leading algorithmic trading company XTX Markets.
The investment comes at a time of high growth for WealthKernel as it plans to strengthen its presence in the wealth management and advisor market segments. This year, WealthKernel plans to position itself in the European market to cater to the growing demand for investment infrastructure solutions.

The funding also follows WealthKernel’s recent venture into US equities trading and supports the company’s mission of helping to bring innovative and cost-effective solutions to everyday investors.

“We are pleased to provide further funding to WealthKernel. Having seen the business grow from strength to strength since we first invested in 2018, we look forward to supporting Karan and team as they continue this expansion into Europe. The demand for innovation in the wealth and asset management industry has never been higher, which WealthKernel is perfectly placed to deliver.”

Martyn James, CEO of ETFS Capital

“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 market presence and continue to bring innovative solutions to the wealth management industry.

Karan Shanmugarajah, CEO of WealthKernel

“I’m very excited about the successful completion of the funding round. This funding round reflects the continued confidence of our investors in WealthKernel’s vision and technology. We are determined to make ‘wealth and investing’ easily accessible to everyone. As we continuously improve and strengthen our platform, we embark ourselves and the wider wealth management market on a route of long-term sustainable growth.”

Aqsa Tariq, CFO of WealthKernel

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About WealthKernel:
Founded in 2015, WealthKernel is a supplier of investment infrastructure for companies
looking to offer digital investment services, whether as stand-alone or in addition to their present offering.

WealthKernel is vertically integrated and offers investing functionality over API, such as
client onboarding, brokerage, trading, and custody. Its infrastructure is optimised for the
delivery of investment and wealth-management services to everybody, not just “higher
value” and HNW retail investors typically serviced by incumbents.

WealthKernel is authorised and regulated by the Financial Conduct Authorit