– Barclays Bank injects further capital into WealthOS, with leading FinTech investor Main Set, part of Capricorn Capital Partners UK, joining the round.
Colombo, Sri Lanka (12th June 2024) – WealthOS, a UK-based cloud-native wealth management platform founded by two Sri Lankan entrepreneurs and with product and engineering operations in Sri Lanka, recently secured £4 million in seed funding led by Barclays Bank.
In addition to Barclays, WealthOS also garnered investment from Main Set, a division of the international investment firm Capricorn Capital Partners UK Limited. With this funding, WealthOS plans to enhance its platform, expand its distribution network, and scale its operations in Sri Lanka to support its growing client base.
The company’s mission is to create fast, seamless digital infrastructure, making wealth management accessible to everyone, everywhere.
“I couldn’t have asked for a better group of investors – all of whom have been incredible cheerleaders for our mission to modernise the wealthtech space. I am excited to demonstrate to the market how we will not only enable organisations to offer incredible, omni-channel wealth management products to clients, but to do so at high speed and with cost efficiency,” comments CEO and Founder of WealthOS, Anton Padmasiri.
Andrew Challis, Co-Head of Principal Investments at Barclays, said: “I am pleased that we invested in WealthOS right from their formative stages. They are a talented team and have leveraged their investment to achieve commercial success in record time.”
“Our ongoing investment with WealthOS demonstrates a genuine commitment to opportunities arising from our Rise Growth Academy and aligns with Barclays’ Innovation Thesis. WealthOS has an impressive proposition in the digital wealth management space. I look forward to seeing their future endeavours coming to fruition, celebrating new milestones, and seeing our return on investment.” he added.
Ioto Iotov, Founder and Managing Partner of Main Set, said “Given our experience within the wealth and investment space, and our focus on fintech, we know the wealth management sector has immense opportunity for digitisation and growth. The WealthOS team has built a proposition that has found product-market fit very early and is primed for use by a whole host of wealth, retirement, and savings companies. We were further impressed by the knowledge, passion, and experience of the founding team, who had personally experienced the pain points WealthOS solves.”
This funding news follows the announcement that WealthOS had released the UK’s first and only cloud-native and API retail pensions (SIPP) technology and that it had been selected by Quai Digital to become its new, strategic technology partner. Quai is a leading provider of B2B wealth management white-label outsourcing services. By utilising WealthOS’ composable software to integrate with its own proprietary platform, it drives further growth by offering new scalable, feature-rich, digital financial capability to its clients.
