FinTech Journey Of Success: London-based digital wealth manager, Nutmeg

Nutmeg Saving and Investment Limited, is a digital discretionary investment management firm, which makes every investing decision in the interests of its clients, as opposed to merely offering a trading platform.

Company Overview: 

• Nutmeg was founded in the year 2011;
• Headquartered in Vauxhall, London, United Kingdom;
• Founders:
  • Nick Hungerford, who was the company’s former Chief Executive Officer (CEO) and Director,
  • William Todd, who was the company’s former Chief Technology Officer (CTO),
• The firm has had eight fundraising rounds, where it managed to raise a sum total of around 153.6 Million US Dollars.
• Nutmeg was acquired by the US-based investment bank and financial services holding MNC, JPMorgan Chase and Co, in the month of June, 2021.

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Fundraising Rounds and Investors:

• In the month of June, 2012, the company had its Series A round of funding, where it raised around 3.4 Million Pound Sterling (GBP). The investors of this round were:
  • London-based Venture Capital (VC) and private equity firm, Pentech Ventures LLP;
  • Timothy Cook Draper, as an angel investor;
  • Daniel Simon Aegerter, as an angel investor;
• In the month of June, 2014, the company had its Series B round of funding, where it raised around 28.8 Million Euros (EUR). The investors of this round were:
  • London-based Venture Capital (VC) company, Balderton Capital;
  • California-based Venture Capital (VC) and private equity firm, Draper Associates;
  • London-based asset management firm, Schroders PLC;
  • San Francisco-based Venture Capital (VC) and private equity firm, Flight Ventures; 
  • Timothy Cook Draper, as an angel investor;
  • Charles William Dunstone, as an angel investor;
  • Daniel Simon Aegerter, as an angel investor;
• In the month of November, 2016, the company had its Series C round of funding, where it raised around 33.6 Million Euros (EUR). The investors of this round were:
  • London-based Venture Capital (VC) company, Balderton Capital;
  • Switzerland-based investment firm, Armada Investment AG;
  • London-based Venture Capital (VC) and private equity firm, Pentech Ventures LLP;
  • London-based asset management firm, Schroders PLC;
  • Hong Kong-based insurance company, Convoy Global Holdings Limited;
• In the month of December, 2016, the company had its Series D round of funding, where it raised around 13.4 Million Euros (EUR). The investor of this round was:
  • Taiwan-based banking institution, Taipei Fubon Bank;
• In the month of January, 2019, the company had its late VC funding round, where it raised around 45 Million Pound Sterling (GBP). The investors of this round were:
  • US-based investment bank and financial services MNC, Goldman Sachs;
  • Hong Kong-based insurance company, Convoy Global Holdings Limited;
• In the month of June, 2019, the company had another late VC funding round, where it raised around 3.8 Million Pound Sterling (GBP). The investors of this round were:
  • UK-based investment crowding platform, Crowdcube;

Nutmeg is the United Kingdom’s leading online wealth manager, having expertise in General Investment Account (GIA), Junior Individual Savings Accounts ( ISAs), stocks and shares Individual Savings Accounts ( ISAs),pensions and Lifetime Individual Savings Accounts (ISAs).

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