Big moves
Tradier, a global retail brokerage firm, has announced that it has netted $24.6m of Series B funding to help with its expansion plans. Having enjoyed a fruitful 2022, the company aims to use the funding to accelerate growth and increase its market share in the digital brokerage space.
Read more here.
Meanwhile, custom indexing and thematic portfolio construction company Allindex has tapped BridgeFT's Wealthtech API as its primary source for data aggregation. Allindex looks forward to the integration securing a more streamlined and efficient process for the company’s clients to access and manage their investment data.
Read more here.
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Ecospend, a payments solution provider, has joined PIMFA Wealthtech with its pay-by-bank solution, which aims to simplify the payment process for financial services providers and their clients. Keith Philips, executive director of the association’s wealth division, is sure that Ecospend’s technology will enjoy popularity within the community as it increases anti-fraud resilience and helps cut costs on interchange and complete transactions instantly.
Read more here.
More funding scoops on the radar: Altruist, a digital investment platform for financial advisors, has raised $112m in Series D. The company plans to channel the funding to expand its offerings and make a stellar rise to outweigh established players like Schwab and Fidelity in the RIA market.
Read more here.
WealthKernel, a leading UK online investment infrastructure provider, announced a new board chair, Brian Schwieger. Previously, Schwieger led equities and ETF trading at the London Stock Exchange (LSE) and was the head of electronic trading at Bank of America Merrill Lynch. Apart from board chair responsibilities, he will also become a non-exec director.
Read more here.
Bird’s eye view
If you ever wondered how companies like BridgeFT and NICE Actimize made it to the market’s sweet spots, you can now get all the insights in a bunch. The new Acclaim publication tells their stories of success and lets us peek at the next steps of the market leaders and annual WealthBriefing WealthTech Americas Awards winners of 2023.
Read more here.
Deep and tested expertise is the investment paying off the most.
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