# NuWealth

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/nuwealth

- Industry: Financial Services
- Headquarters: London, UK
- Website: www.nuwealthapp.com
- Total disclosed funding: $8.2M
- Latest round: Series A (Apr 1, 2022)
- Investors on record: 1

## About

NuWealth Ltd, based in the UK, provides an accessible mobile platform for saving and investing, catering to both novice and experienced investors, with various investment options starting from just £10.Founded in 2017, NuWealth Ltd operates from London, UK, offering innovative investment solutions. The company has engaged in three notable deals, with the most recent funding round being a Series A investment of GBP 4.210 mn led by Fuel Ventures. In September 2024, Quilter agreed to acquire NuWealth Ltd from Monese Ltd and Fuel Ventures, though financial terms were not disclosed. The company was established by founders Grayson Hill, Henry Kurtze, and Kane Harrison, with Kane Harrison serving as the current CEO. The total amount raised by NuWealth to date stands at GBP 4.210 mn, leading to a current company valuation of GBP 32.699 mn.NuWealth offers a comprehensive platform for saving and investing through a mobile application designed for both novice and experienced investors. The core product offerings include a General Investment Account (GIA), Stocks and Shares Individual Savings Account (ISA), and Junior Stocks and Shares ISA (JISA), allowing users to invest in a wide array of stocks, themed funds, and ETFs, starting from just GBP 10. The application facilitates easy access to investments across various global markets, including the UK, EU, and US, targeting a diverse client base interested in building wealth through both traditional and innovative assets. Users benefit from features such as Auto Invest, Round Ups, and instant deposits, which enhance the investment experience by promoting regular contributions and easy management of portfolios. Launched to streamline investment processes, the app addresses the need for accessible and user-friendly investing solutions, catering to over 300,000 users.In the most recent fiscal year of 2023, NuWealth reported a revenue of GBP 197,442.80, with an EBITDA of GBP -2,042,490.70, reflecting the company's focus on growth and user acquisition rather than immediate profitability. Revenue generation primarily occurs through a subscription-based model, charging a nominal fee of GBP 2 per month for its Standard plan, which grants users unrestricted access to all available investment funds. The platform's focus on low-cost, commission-free investing enables users to engage in various investment activities, including fractional share purchases and themed fund investments.NuWealth is poised for growth following its acquisition by Quilter in September 2024, which aims to bolster product innovation and expand its business offerings. The company plans to launch new investment products tailored to meet the demands of a broader market by 2025. Additionally, it is targeting expansion into new geographic regions, specifically aiming to reach customers in the EU and US markets by the end of 2025. Recent funding from the Series A round will support these initiatives, enabling NuWealth to enhance its service capabilities and improve user engagement.

## Funding rounds

- Series A, Apr 1, 2022, $5.5M — Fuel Ventures
- Seed, Dec 2, 2020, $2.7M — Fuel Ventures

## Investors

- Fuel Ventures (https://capitalatlas.ai/funds/fuel-ventures) — Seed, Series A