OneVest’s most current CAD $5M seed round was led by Luge Capital
Overall funding raised to day is CAD $7.1M
OneVest’s digital prosperity management platform can be embedded in client-experiencing goods by means of basic APIs
Proceeds from this round will be made use of to expand the group, improve revenue and drive product growth
Neo Monetary, a Canadian fintech, is the first to launch a new investment support applying the OneVest platform
CALGARY, Alberta & TORONTO, April 26, 2022–(Company WIRE)–OneVest, an embedded prosperity administration system serving fintechs, electronic financial institutions and money establishments, introduced these days that it has secured $5M in venture financing to expand the workforce, expand product sales and push products progress.
The round was led by Luge Money, a leading fintech-concentrated undertaking company, with participation from OMERS Ventures, AAF Administration, FJ Labs, Nationwide Lender of Canada’s corporate venture money arm NAventures, Panache Ventures, and strategic angels. As component of the spherical, Karim Gillani, previous PayPal executive and existing General Associate of Luge Money, will be part of the OneVest board. Atul Tiwari, former CEO of Vanguard Canada, will come to be a strategic advisor to the organization.
Founded in February 2021, OneVest presents digital wealth administration providers that can be embedded in customer-going through goods through a established of uncomplicated APIs. This allows purchaser fintechs, credit score unions, regular financial institutions and wealth administration firms to offer a digitally-native user practical experience for individualized wealth management to their stop prospects that can be launched in a number of weeks.
Till now, thoroughly managed investment decision products and services have only been obtainable to the really rich population by means of legacy economic establishments. OneVest’s technologies integrates seamlessly with a range of fintechs and money institutions, enabling them to bundle personalised wealth and investing capabilities with other economic merchandise. This introduction of Canada’s first Wealth-as-a-Services (WaaS) system contains:
A comprehensive turn-key remedy that presents sturdy APIs, white-labelled cell apps and front-conclusion widgets
The capability to embed wealth management journeys into current purchaser activities
Fractional shares allocations with no expenditure minimums
The skill to present ground breaking wealth experiences to customers, which include objectives-based mostly investing, thematic & dependable investing, personalised portfolios, and option investments.
Rapid deployment (in weeks instead of several years)
“OneVest’s ability to execute swiftly and with substantial good quality to develop an stop-to-finish system in such a intricate industry, is extremely outstanding,” mentioned Karim Gillani, Typical Associate of Luge Cash. “They have assembled a stellar team, which has enabled them to go soon after a enormous untapped market place.”
OneVest was founded by Amar Ahluwalia, Jakob Pizzera and Nathan Di Lucca, all of whom have extensive practical experience setting up, running, and scaling innovative providers in North The us. Jointly they bring over 30 decades of working experience in financial solutions and technological innovation across fintech, asset management, cash marketplaces, and M&A.
“People today are significantly demanding a far more seamless and uncomplicated encounter where monetary merchandise are built-in into their everyday life,” reported Amar Ahluwalia, Co-founder and CEO of OneVest. “Our mission is to make investing additional available to anyone, and offered at any time, anywhere and via any channel.”
This funding news will come on the heels of Canadian fintech Neo Money announcing the launch of its actively managed prosperity system, Neo Commit, built on the OneVest platform.
Neo Economic Co-founder and CEO Andrew Chau stated, “Our mission at Neo is to reimagine each individual financial touchpoint Canadians have – like their expending, preserving, benefits, and now investing. Partnering with OneVest furnished us the ability to embed prosperity and investments inside our system, and even more grow the connection with our consumer.”
OneVest is a economic technological innovation enterprise on a mission to reinvent prosperity administration. The corporation delivers an embedded Prosperity-as-a-Assistance (WaaS) platform that makes it possible for any enterprise to offer you customized financial commitment portfolios through a easy API. OneVest manages all the complexities of giving cutting-edge wealth management for enterprises. OneVest is backed by notable traders including Luge Funds, OMERS Ventures, AAF Management, FJ Labs, NAventures, Panache Ventures and Harvest Undertaking Associates. For additional info, be sure to check out www.onevest.com.
OneVest Management Inc. is a registered Portfolio Manager in each individual province and territory of Canada and an Financial investment Fund Manager in the provinces of Alberta, Newfoundland and Labrador, Ontario, and Quebec. Property in OneVest accounts are held with CI Investment Companies (CIIS), a registered financial investment vendor in each province and territory of Canada, a member of the Expenditure Field Regulatory Business of Canada (IIROC). OneVest Administration Inc. is a wholly owned subsidiary of A single Prosperity Technologies. Copyright @ 2021, Just one Wealth Systems Inc. All legal rights reserved.
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