London-based fintech company Nutmeg announced that it has raised £12 million in a Series D funding round that was led by Taiwan’s second largest financial services firm – Taipei Fubon Bank, according to Tech City News.
The funding follows Nutmeg’s funding round last month that raised £30 million led by Hong Kong’s financial advice firm Convoy. The current funding round has brought Nutmeg’s total to £42 million.
Nutmeg, an online wealth manager, has currently attracted a total of £71m over the past five years and according to the statements, the funds will be used to boost the company’s innovation, expansion as well as maintaining its growth.
“There is a very significant market opportunity before us, in the UK and beyond, and we are going to capture it. With these new funds, we will continue to invest in product innovations which disrupt the industry and deliver a better deal – and a better experience – for customers. And, we are going to expand into new categories and new territories,” Martin Stead, CEO of Nutmeg, told Tech City News.
For this funding round, Nutmeg is supported as a corporate advisor by Magister Advisors. Also international law company Taylor Wessing played as the legal advisor on the deal.
