• WealthOS has secured institutional seed funding from Barclays Bank and other leading FinTech investors to propel the next phase of its growth. 
  • The first closing of the round raised £2M, with the second closing of a further  £2M expected to be completed soon.

London, UK (21 November 2023)—WealthOS, a cloud-native and API-driven core WealthTech firm, announced that it secured institutional seed funding from Barclays Bank and other leading FinTech investors to propel the next phase of its growth. Of the total £4M raise, the company announced that it successfully raised £2M in the first closing of the round, with a view to completing the second closing imminently. It will use this investment to further develop its platform and accelerate its market penetration.

In addition to Barclays, Singapore-based VC fund nVentures, Chris Adelsbach (Founding Partner – Outrun Ventures, Venture Partner – Techstars), and John Donohoe (CEO – Carne) participated in the round, along with current investors Mike O’Brien (NED – Abrdn and Carne, ex-JP Morgan, ex-BGI/BlackRock) and John Herlihy (Chair – Carne, ex-Google, ex-LinkedIn). 

“In just three short years since its founding, I am delighted that WealthOS has attracted the backing of a prestigious institution like Barclays and from a group of highly esteemed investors who strongly support our mission to upgrade the technology infrastructure for the wealth management industry,” stated CEO and Co-Founder of WealthOS Anton Padmasiri. 

“It’s evident that there is a clear demand for more choice and better technology in the core WealthTech space. With the second closing of the round open, I welcome enquiries from other strategic partners and investors who wish to join our journey of reshaping the WealthTech landscape.”

Co-Head of Principal Investments at Barclays Andrew Challis stated: “Our investment demonstrates our ongoing commitment to opportunities arising from our Rise Growth Academy and aligned with Barclays’ Innovation Thesis. We’re excited to back Anton and his team in their next phase to unlock their full potential for scaling the business.”

WealthOS is a UK-based company that provides modern middle- and back-office technology to the savings, investment, and retirement industries. It provides the technology required for supporting features such as fully compliant client onboarding, tax-wrapper administration, portfolio management, rebalancing, trading, settlement, end-to-end recordkeeping, reconciliation, fee computation, account transfers, projections, and more.

By using the latest cloud-native technology as well as continuous integration and continuous delivery (CI/CD) methodologies, WealthOS can reduce the infrastructure and running costs for organisations by over 40% while offering elastic scalability and best-in-class security. The platform’s modular architecture lets organisations quickly augment one or more of its solutions with minimal disruption to their existing tech stacks. 

WealthOS’ API-driven approach enables organisations to develop digital wealth management products and features at least 3x faster than traditional WealthTech platforms. WealthOS also recently launched the UK’s first and only cloud-native, API-driven self-invested personal pension (SIPP) drawdown technology that will enable DC pension providers to offer fully digital retirement propositions to their clients.

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About WealthOS
WealthOS is the cloud native, modularised operating system SaaS for digital wealth management products. Founded in 2019 and currently available in the UK, WealthOS helps wealth managers to achieve their digital transformation three times faster and 40% cheaper. As a minority founded business operating across the UK and Sri Lanka, we firmly believe in building digital infrastructure that enables equitable financial access for everyone, everywhere.

Media Contact
Steve Taylor, CFO
steve@wealthos.cloud / +44 7879 558600