Wealthtech was one of fintech’s buzziest subsectors in the years following the pandemic, as digital platforms promising new ways to manage and grow wealth saw a surge in investor interest. But over the last two years, VC appetite for wealthtech startups has waned.
European wealthtech startups raised just over $1bn in 2023, according to Dealroom, a sharp drop from its peak of $4.5bn in 2022.
Despite the funding slump, some investors still see big opportunities in wealthtech — particularly in startups servicing institutional clients like wealth advisors and banks, and those building products which automate the operational processes of wealth management.
And there are signs that VC funding might be finding its way back to the sector after the slump: Sifted data shows that wealthtech startups raised more in November 2024 than in any month since March 2023.
So which companies could be set to grab a slice of that pie? Sifted spoke to investors from Northzone, Molten Ventures, Seedcamp, Creandum, Augmentum and Dawn Capital to get their take on the most promising wealthtech startups right now. The only catch? They couldn’t choose portfolio companies. Here are their top picks.
Maxine Rior, Principal at Northzone
Flanks — Spain
Flanks is an all-in-one wealth management solution which aggregates financial and non-financial client data for advisors, banks and family offices to service their end-customers more efficiently and accurately.
Flanks’s customers can use its system to see an automated view of a client’s aggregated wealth, and use that to provide them with analysis, insight and reporting. More than $40bn is currently managed in its system.
Upvest — Germany
Upvest enables fintechs to easily embed investment experiences into their apps via the company’s investment API and digital infrastructure. Its customers — which include fintechs such as Revolut, Raisin and Plum — can create products such as custom portfolios for their end-clients, configurable savings plans and more. Upvest handles the underlying complexity such as brokerage, settlement, custody and licensing.
Vega — London
Vega is building the distribution and client operating system to enable alternative asset managers to scale and service their client base. Through their Core Engine offering, Vega orchestrates data flows and opens up new distribution channels via APIs in a modular fashion. They are not just an orchestration solution, but building the core infrastructure to allow for the digital enablement of a rapidly growing market of alternative asset managers.
Vinoth Jayakumar, Partner at Molten Ventures
WealthOS — UK
WealthOS is a cloud-native SaaS platform that accelerates digital transformation of wealth managers, enabling 3x faster product launches at 40% lower costs compared to legacy systems. The company specialises in segments that have traditionally remained on on-prem software such as SIPPs. By transforming processes like workflows within customer journey, account management and compliance procedures, WealthOS looks to provide a cheap alternative in a market that is ripe for disruption.
Jayakumar also recommended Upvest and Flanks.
Will Bennett, associate at Seedcamp
Nevis Wealth — UK
As bottom lines get hit by generational churn and bloated back offices, streamlining matters. Independent financial advisors use Nevis Wealth for back office onboarding, compliance solutions, the automation of routine tasks and generation of reports, freeing up more time to deliver client services.
Monument — UK
In the congested market of digital banking, Monument is making a name for itself. In particular, its range of savings products — including limited access savers, easy access savings, fixed-term deposit accounts and ISAs — help users get the most out of their savings.
Finary — France
Finary is a wealth management app helping users efficiently track their diversified assets. The platform enables investors to aggregate their investments — including crypto, stocks and startups — in one place. For me, Finary has the best integrations with the finance apps that consumers already use, pulling users’ data all into one platform.
Nick Lawitschka, VP at Creandum (London)
Saturn — UK
Saturn is building an AI-native operating system for financial advisors that automates all repetitive workflows they’re facing today — including investment research, writing up meetings with clients and cross-referencing compliance frameworks with investment documentation. By abstracting away these tasks, financial advisors can service their existing customer base more efficiently, while making providing advice to previously unserviceable clients profitable. The company graduated from the summer 24 batch of Y Combinator.
Obsidian — UK
Financial advisors can use Obsidian to onboard, consolidate and manage their clients investment portfolios. By leveraging AI for these processes, advisors can scale their customer base, while keeping the costs low. Example processes are drag & drop of suitability reports, AI agents to conduct pension transfers or automated reporting for annual reviews. The end goal is to provide ultra-personalised advice at scale and at a lower cost to the end-customer.
Marloo — UK
Marloo focuses on automating and improving repetitive and time-consuming workflows for financial advisors, starting with a calendar app, an AI note taker and automated summaries with suggested next steps. Marloo has been focused on data privacy and security from the very beginning, which we at Creandum believe is important in this sector, and it is SOC 2 and GDPR compliant.
Reginald de Wasseige, principal at Augmentum
Woven — UK
AI is set to transform wealth management, but there’s a fundamental roadblock — AI is only as good as the data it has access to, and most advisory firms are working with fragmented, incomplete or siloed information, making it difficult to leverage AI effectively for client insights, automation or personalisation.
Woven solves this problem by building a unified data model with seamless integration across financial planning, portfolio management, investment platforms and compliance tools. By ensuring high-quality, structured data flows across advice tech platforms, Woven enables advisors to unlock AI-powered insights, automate workflows and elevate client engagement.
Woven is positioning itself as the essential data infrastructure for modern wealth managers.
Ramify — France
Europe’s wealth management market is undergoing a seismic shift, with trillions of assets set to change hands over the next decades. Traditional banks are struggling to retain clients, and existing digital solutions lack the sophistication to serve premium investors. Ramify is redefining digital wealth management for Europe’s mass-affluent and high-net-worth individuals — an underserved segment stuck between entry-level robo-advisors and expensive private banks.
Ramify offers the broadest product portfolio in the market, spanning private equity, real estate, structured products, tax-optimised accounts and alternative investments. By integrating these offerings into a seamless, data-driven advisory experience, Ramify combines the depth and personalisation of private banking with the efficiency and accessibility of a digital platform.
Homaio — France
Democratising access to asset classes has been one of the most exciting and recurring themes in wealthtech. And Homaio is bringing that innovation to carbon markets. As the world accelerates toward net zero, carbon trading is becoming a crucial instrument, but access to compliance markets — like the EU Allowance (EUA) system — has long been restricted to institutional players. Homaio is changing this by providing a direct investment platform which allows retail investors to participate in the carbon allowance market. By unlocking this high-impact, high returns asset class, Homaio is bridging the gap between climate finance and wealth creation. Down the line, the team has the ambition to create a full-stack climate investment platform, aiming to capture a generational opportunity.
Dan Chaplin, partner at Dawn Capital
73 Strings — France / United States
73 Strings is helping private markets managers including BlackStone and Eurazeo to streamline their middle office processes including investment data collection, monitoring, asset valuations and reporting. Its platform is multi-asset enabled, and helps these fast-scaling funds to parse and manage reporting data collected from non-standard and unstructured documents, reducing manual processes, improving accuracy and auditability and improving middle office efficiency.
Chaplin also recommended Upvest and Vega.
