Wealth managers are fighting to empower their clients with financial security and equitable access to high quality products and services. And they are losing this battle due to the costly, inefficient, and non-digital friendly technology solutions available today.
WealthOS is bringing a much-needed upgrade to the wealth tech industry, to accelerate digital adoption and innovation. With WealthOS, wealth managers can start helping their clients achieve their goals today, when it matters.
As a part of this mission, WealthOS announced today that it has raised $800,000 in seed funding for the development of its cloud-native core wealth management platform. WealthOS has attracted investment from current and former senior executives of some of the world's leading asset management firms. It will use the funds to build upon the private beta it launched in late 2020 to have a UK focused, production ready platform capable of supporting an end-to-end wealth proposition, by end of 2021. WealthOS also intends to have their first live client on the newly minted platform along the same timeline.
Anton Padmasiri, co-founder, and CEO said:
“I know from personal experience how prohibitively costly and time consuming it can be to build high quality digital wealth products on top of wealth tech platforms offered by the established players. They are clunky and unsuited for the digital age. Over the last year or so of talking to the wealth management industry, it’s evident that the frustration is shared widely but alternatives are non-existent. I'm delighted that we have attracted an amazing group of investors who share our vision of harnessing the power of cutting-edge technology to increase access to high quality financial services to the masses and I can’t wait to unveil the production ready platform later this year.”