Nutmeg Raises Another $32M To Disrupt Wealth Management Startup

TechCrunch

Nutmeg, the UK-based online investment management startup, intends to disrupt the world of financial investing by making it affordable for the masses. But to do that against it needs cash. Lots of cash. Today they’ve raised another $32 million, taking their total funds raised to $50m. To put that in perspective, WealthFront in the US has raised $65.5M, while Betterment has raised $45M to enter this market.

The investors in today’s round include Carphone Warehouse founder Charles Dunstone (pictured, on left), asset management house Schroders, and top-tier European VC Balderton Capital. Existing investors include Tim Draper and Daniel Aegerter from Armada Investment Group also participated. The new funds will be spent on customer acquisition and product development. Draper calls Nutmeg “among the very best” of “exciting new financial technology businesses.”

Nutmeg offers portfolio management services to anyone with as little as £1,000 to invest. It now has over 35,000…

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