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Baillie Gifford former fund manager raises £3.6M in seed funding to revolutionise how people invest

Image credits: Tillit

The outbreak of the COVID-19 pandemic, several new private investors have cropped up worldwide as the investment market is expanding rapidly. At the same time, the difficulties faced in making investments have also been highlighted. To make it easier for people to find and invest in funds, London-based curated investment platform Tillit is building the world’s best fund boutique.

£3.6M investment

In a recent development, London-based Tillit has raised £3.6 million in seed funding. The financing round was led by industry veteran, Patrick Edwardson. Techstart Ventures, Nicholas Kirrage and Richard McGrail. The round was closed in December 2021 and is awaiting FCA approval.

Tillit was opened to the public in November 2021 and plans to use the investment to expand its platform to enable transfers and pensions in 2022. It is a key milestone for the company as it eyes to revolutionise the way individuals invest their long-term savings.

Felicia Hjertman, Founder and CEO, Tillit said, “We’re incredibly excited to embark on the next phase of Tillit’s journey to revolutionise how people invest. We’re thrilled to close our seed funding round with the backing of Patrick and our other investors – it’s a strong sign of conviction and potential from the people who have watched us most closely over the last 12 months. This funding will enable us to continue to develop the platform and ultimately to empower more people to invest with confidence, conviction and ease.”

Mark Hogarth, Partner, Techstart Ventures said, “Techstart Ventures is delighted to continue backing Felicia, Paul and the amazing team at Tillit. They’ve made incredible progress over the last year and have huge plans for 2022 and beyond.”

Appoints new Board member

As a part of this investment round, Patrick Edwardson will join Tillit’s Board later this spring. The new board member will work alongside Tillit in realising its mission to revolutionise how people invest.

Felicia Hjertman said: “We cannot wait to welcome Patrick to our Board. Patrick has a wealth of industry experience, has played a key role on our Investment Committee and we look forward to working more closely together on our mission to revolutionise how people invest.”

Patrick Edwardson, Managing Director, Atheian Limited said: “I’m delighted to back Felicia and Paul and their mission to revolutionise how people invest. Their vision, deep industry experience and drive to transform the retail investment market and build a platform that empowers people to make better investment decisions is incredible. The team has made fantastic progress in the last year and the platform has gone from strength to strength. I’m excited to be joining the Board and continue to support them on this mission. It’s a great time to get involved.”

DIY investment platform

Tillit was founded by Felicia Hjertman from Baillie Gifford and Paul O’Neill in 2019. Felicia spent almost a decade with world-leading asset manager Baillie Gifford as an Analyst and Investment Manager. Paul has over 15 years of professional experience as a software developer in varied industries such as financial services, identity management and biotechnology.

Tillit is DIY investment platform for private individuals offering a handpicked investment universe across funds, investment trusts and ETFs. Currently, it offers Stocks & Shares ISAs as well as General Investment Accounts. What’s more, Tillit offers an exciting fund discovery and selection process, exclusive content, and a focus on transparency and fairness.

For now, Tillit’s curated investment platform of 95 funds, investment trusts and ETFs will play a key role in empowering investors to make investment decisions with confidence, conviction and ease.

Tillit charges a simple platform fee of of 0.40% for the first year on total assets in the users’ account. It charges the fee for three simplicity, transparency, and long-term thinking. Also, there is no trading, transfer, or exit fees. However, individual fund fees, stamp duty, and or Panel of Takeovers and Mergers (PTM) levy may apply. The fee will drop by 0.01% annually until it reaches 0.25% irrespective of the size of the assets.

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