If you’ve diligently earned your wealth and seek effective wealth management services, you want assurance that your chosen company will safeguard your assets. Wealth management companies often rely on slow and outdated legacy systems, lack personalisation, and struggle to adapt to changing needs. These systems can lead to data inaccuracies and missed opportunities. Upgrading them is challenging and costly. WealthOS aims to revolutionise this by offering a comprehensive, fast, and secure solution, benefiting both wealth management companies and their clients.
London-based WealthOS, is a cloud-native wealth management infrastructure platform provider, which has closed its £4M seed funding round, with significant investments from Barclays Bank and Main Set, a leading FinTech investor under Capricorn Capital Partners UK.
Who led the investment round?
The final closing of the seed round saw an additional £2M raised, complementing the initial £2M invested by Barclays and other notable fintech investors including Chris Adelsbach, Mike O’Brien, John Donohoe, and John Herlihy in late 2023. This substantial backing will enable WealthOS to enhance its platform, expand distribution, and scale its operations to support a growing client base.
Anton Padmasiri, CEO and Founder of WealthOS, expressed his enthusiasm, stating, “I couldn’t have asked for a better group of investors – all of whom have been incredible cheerleaders for our mission to modernise the wealthtech space. I am excited to demonstrate to the market how we will not only enable organisations to offer incredible, omnichannel wealth management products to clients, but to do so at high speed and with cost efficiency.”
Early success and future potential
Andrew Challis, Co-Head of Principal Investments at Barclays, shared his optimism about WealthOS’s prospects: “We’re very pleased to have invested in WealthOS at the start of their journey. They are a talented team and have leveraged the investment to achieve early commercial success. Our ongoing investment with WealthOS demonstrates our commitment to opportunities arising from our Rise Growth Academy and aligns with Barclays’ Innovation Thesis. WealthOS has an impressive proposition in the digital, wealth management space. I look forward to seeing their future endeavours coming to fruition, celebrating new milestones, and seeing our return on investment.”
Sector’s digitisation potential
Ioto Iotov, Founder and Managing Partner of Main Set, also highlighted the promising future for WealthOS: “Given our experience within the wealth and investment space, and our focus on fintech, we know the wealth management sector has immense opportunity for digitisation and growth. The WealthOS team has built a proposition that has found product-market fit very early; and is primed for use by a whole host of wealth, retirement, and savings companies. We were further impressed by the knowledge, passion, and experience of the founding team, who had personally experienced the pain points WealthOS solves.”
Strategic partnerships and innovative solutions
In the wake of announcing the UK’s inaugural cloud-native and API retail pensions (SIPP) technology, WealthOS has secured funding in this latest round. Furthermore, Quai Digital, a prominent B2B wealth management white-label outsourcing services provider, has chosen WealthOS as its strategic technology partner. By integrating WealthOS’s modular software with its proprietary platform, Quai Digital aims to enhance growth prospects and deliver innovative digital financial capabilities to its clients.
About WealthOS
Established in 2019, WealthOS is a cloud-native, modularised operating system (SaaS) designed specifically for digital wealth management products. The company empowers wealth managers to achieve digital transformation three times faster and at a 40% cost savings. As a minority-founded business operating across the UK and Sri Lanka, WealthOS is committed to creating a digital infrastructure that promotes equitable financial access for all
By securing this latest round of funding, WealthOS is poised to accelerate its mission of transforming the wealth management sector with cutting-edge technology, providing faster, cost-effective solutions to a broader range of clients.
