InvestCloud acquires Nutmeg provider Babel

$20m (£16.44m) deal

Tom Ellis
clock • 1 min read

California-based Fintech firm InvestCloud has acquired Babel Systems, a provider to the robo-adviser Nutmeg, in a $20m (£16.44m) deal.

InvestCloud, known for its Programs Writing Programs technology, provides wealth managers with client portals, mobility and adviser portals. The firm also enables allocators and managers of multi-asset class, multi-strategy portfolios with "powerful and robust tools" for data aggregation, performance analytics and operational efficiencies  The firm described Babel as the "most modern trade and account platform in the market". InvestCloud has more than 660 clients with accounting needs that are currently served by last-century legacy accounting systems. InvestCloud said this latest acq...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Companies

Standard Life individual annuity premiums hit £1.2bn

Standard Life individual annuity premiums hit £1.2bn

Third consecutive year of growth

Isabel Baxter
clock 16 March 2026 • 2 min read
Surrey IFA declared in default by FSCS over pensions advice

Surrey IFA declared in default by FSCS over pensions advice

Sigma Asset Management is no longer trading

Isabel Baxter
clock 13 March 2026 • 1 min read
Lloyd's broker declared failed after Blackmore Bond investigation

Lloyd's broker declared failed after Blackmore Bond investigation

Lonsdale Insurance Brokers entered voluntary liquidation in July 2024

Isabel Baxter
clock 13 March 2026 • 2 min read