Sidekick, a London, UK-based wealth administration platform supplier, raised £4.5m in a seed spherical and £4m by way of a debt facility.
The seed spherical was co-led by Pact VC and TheVentureCity and supported by MS&AD, Blackwood, and 1818, alongside earlier traders Octopus Ventures, Seedcamp, and Semantic Ventures. Columbia Lake Companions, backers of Mews, Factorial, Griffin, and Contentsquare, supplied the debt financing.
The mixed £8.5m will see the startup proceed scaling its group and increasing its product lineup whereas securing a European license. The corporate intends to make use of the funds to speed up consumer growth, allow additional product improvement, and help licensing plans in Europe.
Co-founded by Matthew Ford and Pete Townsend, Sidekick provides a contemporary method to wealth administration for these trying to do extra with their cash and profit from the monetary benefits sometimes reserved for the ultra-wealthy. It gives monetary methods designed to maximise returns and navigate market complexities. Customers can entry unique funding alternatives, liquidity choices, and (coming quickly) different asset courses, unlocking new avenues for wealth accumulation.
Sidekick obtained a complete set of regulatory permissions from the Monetary Conduct Authority (FCA) and launched its actively managed flagship equities product in January. Providing a low minimal portfolio requirement of simply £1,000, traders obtain a premium product set and repair, together with expertly managed investments, common portfolio updates, insights into market traits, and broader funding themes, sometimes reserved for a £500,000 to £1 million and upwards portfolio.
Sidekick additionally provides a Portfolio Line of Credit score, a lombard lending product designed to assist traders keep invested over the long run whereas nonetheless accessing liquidity when wanted.
FinSMEs
13/06/2024
