Prosper Secures £4M Funding to Revolutionize Wealth Management and Upgrade Investment Services
Prosper, an innovative wealth management platform, is on a mission to transform the industry by leveraging advanced technology and AI-driven services. Recently, the company secured £4 million in funding to accelerate its growth and enhance its offerings.
Funding Round Details
The latest funding round was spearheaded by Fuel Ventures, which contributed £2 million to the investment. Existing shareholders also added their support, according to a report by UK Tech News.
- Previous angel round attracted investments from notable figures such as the founders of Monzo, Capital One, and World First.
- Support also came from Silicon Valley’s Andreessen Horowitz (A16Z) and other venture firms including Connect Ventures, MMC Ventures, and Portfolio Ventures.
Prosper’s Vision for Wealth Management
Based in London, Prosper manages over £200 million in assets and aims to disrupt traditional wealth management practices. The platform focuses on replacing outdated methods, such as cumbersome PDFs and legacy technology, with innovative digital solutions.
Prosper’s services include:
- Low or no-fee savings options
- Pension management
- Investment opportunities
Utilization of Funding
The new investment will be instrumental in:
- Rapidly expanding Prosper’s customer base
- Launching private market investment services
- Further developing AI-driven products to enhance customer experience
Leadership Insights
Nick Perrett, CEO and co-founder of Prosper, expressed his commitment to revolutionizing the wealth management sector. He stated, “For far too long, we have had a rough deal from wealth managers: high fees, hidden charges, and outdated technology. I founded Prosper because this simply isn’t good enough. It’s time for wealth management to be shaken up and brought into the 21st Century.”
For more information on how Prosper is changing the landscape of wealth management, visit their official website at Prosper.
