Fuel Ventures has spearheaded a £4m ($4.95m) investment round in wealth management platform Prosper, which caters to high-net-worth individuals.
Using this infusion, Prosper plans to advance its AI capabilities and build its private market investment offering.
The firm will also use the capital to scale its customer base quickly.
This investment round saw Fuel Ventures contribute £2m ($2.4m) as the lead investor.
Other contributors to the round were 60 professional sportspeople from The Players Fund, including England cricket captains Ben Stokes and Jos Buttler, along with Olympic and world champions Dame Jess Ennis-Hill & Dame Sarah Storey.
Fuel Ventures founder Mark Pearson said: “Prosper stands out as a truly innovative player in the wealth management space. Their use of AI to provide tailored financial help for clients at scale addresses a significant market need.
“Nick, Ricky and the Prosper team are already making huge waves in the finance industry and we look forward to seeing how they continue to redefine how wealth management services are delivered in 2025.”
Prosper’s platform, currently managing over £200m ($247m) in assets, aims to redefine wealth management by unifying technology with expert advice.
The fresh investment for Prosper follows its initial angel funding round that attracted an array of investors, such as founders of Monzo, Capital One, and Tandem. This round also drew institutional angel investors such as Andreessen Horowitz, Connect Ventures, MMC Ventures, and Portfolio Ventures.
Prosper chairman and co-founder Ricky Knox said: “We are thrilled to close our latest investment round and have the likes of Fuel Ventures join us on this journey to reshape wealth management.
“Their belief in our mission to revolutionise wealth management in favour of the customer is critical at this stage of our growth.”
“Wealth management platform Prosper secures $4.9m” was originally created and published by Private Banker International, a GlobalData owned brand.
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