Technology-based wealth manager Netwealth has said it has completed a third round of fundraising with new commitments of £10m.
It said the funds raised, which now equate to £26.5m, will be principally used for further investment in staff and technology. This third fundraising round was led by businessman Michael Spencer, who made a £5m investment. The remaining was split between a small number of new investors, as well as 75% of existing shareholders. Other investors have included Jupiter Fund Management vice chairman Edward Bonham Carter, Prudential and Man Group former chairman Harvey McGrath and Santander vice chairman and Lloyds of London chairman Bruce Carnegie-Brown. In addition, Netwealth said it ha...
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