UK fintech firm Nutmeg has raised £12 million in a Series D funding round led by Taipei Fubon Bank, Taiwan’s second largest financial services firm. The company announced the round last month, which at the time brought in £30 million, in a round led by Convoy, Hong Kong’s largest listed independent financial advice firm. Now the total is £42 million.
Nutmeg says the funding round is the largest into British fintech since June's Brexit vote.
Nutmeg is an online financial manager based out of London that provides investment services for businesses.
In a statement quoted by Tech City News, CEO Martin Stead said, “There is a very significant market opportunity before us, in the UK and beyond, and we are going to capture it. With these new funds, we will continue to invest in product innovations which disrupt the industry and deliver a better deal – and a better experience – for customers. And, we are going to expand into new categories and new territories.”
In total, Nutmeg has raised £71 million over the last five years and says it will use the new funds to fuel innovation and continue its expansion.
Read more: Tech City News