Nutmeg gets £45m support led by Goldman Sachs
Nutmeg, the alternative investment app, has completed a £45 million fundraise led by the Goldman Sachs Principal Strategic Investments Group, and Convoy, the Hong Kong-based financial advisory firm.
It aims to use the funding to expand, with “an international B2B plug-and-play partnership model which leverages its proprietary technology”.
Convoy will help Nutmeg launch into Hong Kong later this year, according to the firm. Convoy first invested in the firm in 2016.
This is the largest ever investment into a digital wealth manager in Europe, according to Nutmeg.
Nutmeg currently counts 60,000 customers in the UK, out of which 40% of our customers have never invested before; 35% are female, compared to a market average of just 26%; and the average age of our investor is 40, around ten years younger than the industry average.
Goldman Sachs is well known for making long-term investments in “fast-growing” technology companies.