Written by Christina Levada
Fuel Ventures, a leading UK venture capital firm, has announced its latest investment of £2 million in Prosper, a wealth management platform targeting high net worth individuals that is shaking up the way wealth is managed by unlocking access to private markets and leveraging AI. The investment round which totalled £4 million was led by Fuel Ventures and included participation from existing investors.
Fuel Ventures, one of the UK's leading venture capital firms, has announced its latest investment of £2 million in Prosper as lead investor in a £4 million round. Prosper is a high-net-worth wealth management platform designed to maximise people’s long term wealth leveraging AI.
The platform, which has over £200 million in assets under administration, is at the forefront of transforming wealth management by combining innovative technology with expert financial insights. With this investment, Prosper intends to rapidly scale its customer base, launch its private market investment offering and build out its AI product.
By leveraging AI, the platform aims to revolutionise their customer experience and diversify customer investments, leading to higher potential returns.
This latest funding follows Prosper’s initial angel round, which saw support from an impressive roster of investors, including founders of Monzo, Capital One, World First, Tandem, Azimo, Embark, Comply Advantage, as well as institutional angel investments from Silicon Valley firm Andreessen Horowitz (A16Z), Connect Ventures, MMC Ventures, and Portfolio Ventures.
With the backing of prominent investors and a proven fintech team previously behind businesses such as Nutmeg and Tandem Bank, Prosper is poised to set a new standard in high-net-worth wealth management.
Ricky Knox, Chairman and Co-Founder of Prosper, said:
“We are thrilled to close our latest investment round and have the likes of Fuel Ventures join us on this journey to reshape wealth management. Their belief in our mission to revolutionise wealth management in favour of the customer is critical at this stage of our growth. With this investment, we’re excited to expand our AI-driven solutions to serve even more clients and deliver exceptional value.”
Mark Pearson, founder of Fuel Ventures, commented:
“Prosper stands out as a truly innovative player in the wealth management space. Their use of AI to provide tailored financial help for clients at scale addresses a significant market need. Nick, Ricky and the Prosper team are already making huge waves in the finance industry and we look forward to seeing how they continue to redefine how wealth management services are delivered in 2025.”
Nick Perrett, CEO and Co-Founder of Prosper, added:
“For far too long we have had a rough deal from wealth managers: high fees, or worse still hidden fees, companies that incentivise their people to sell products rather than giving us the help we need, and managing this entire process with painful PDFs and old fashioned technology. I founded Prosper because this simply isn’t good enough. It’s time for wealth management to be shaken up and brought into the 21st Century.”
About Prosper
Prosper was founded to maximise our members’ potential wealth. We provide pensions, investments and savings that have clear charges. And we keep them low. Our members benefit from market beating cash savings, zero fee access on 30 index funds from the world's leading asset managers, zero platform fees and zero transaction fees. In the future, we will charge members a fair platform fee and low, fair and transparent fees for any other investment products we think represent great value.
The business will always be run with a lean team so that we can pass on as much value as possible to our members. Prosper founder and CEO Nick Perrett and Chairman Ricky Knox have previously worked together building Tandem Bank. The company is backed by the founders of Monzo, Capital One and Admiral and other leaders in financial services.
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