A UK fintech start-up that launched just 18 months ago has attracted $32m in funding from a group of new shareholders, the company has announced. Amongst the high profile investors are the venture capitalists Balderton, international asset management company Schroders, and Sir Charles Dunstone, Founder of Carphone Warehouse.
Nutmeg, an online investment management service, has raised $50m in capital to date. Having rapidly grown its customer base to 35,000 users, the latest round of funding will be used to grow its portfolio of products as well as improving the service itself.
“We believe our digital model epitomises the future of investment management,” said Nick Hungerford, Nutmeg’s Founder and CEO. “We’ve built an award-winning service from the ground up, one that delivers brilliant portfolio management at an incredibly low cost, in a way that is secure, transparent and above all convenient for the customer.”