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FT Partners Advises Nutmeg on its £45 million Series E Financing

Overview of Transaction

  • On January 22, 2019, Nutmeg announced it has raised £45 million in its Series E financing round led by Goldman Sachs and Convoy
  • Goldman Sachs’ Principal Strategic Investments Group is a new investor in the Nutmeg platform, while Convoy, a Hong Kong-based financial advisory firm, is investing for a second time
  • Convoy first invested in Nutmeg in November 2016
  • Headquartered in London, Nutmeg is a digital wealth manager operating in the U.K. and Asia (Hong Kong / Taiwan)
  • Nutmeg provides bespoke automated advice and discretionary portfolio management with exposure to multiple asset classes, through its diversified ETF-based portfolios
  • Nutmeg serves more than 60,000 active investors and manages approximately £1.5 billion in assets under management

Significance of Transaction

  • Nutmeg’s Series E financing is the largest funding round by a European digital wealth manager to-date
  • Demonstrates Goldman Sachs’ continued focus on consumer facing FinTech following the launch of Marcus, its online savings account in the UK

FT Partners' Role

  • FT Partners served as exclusive strategic and financial advisor to Nutmeg
  • This transaction underscores FT Partners' strong domain expertise and successful track record in the WealthTech space