Sidekick Disrupts Wealth Management Landscape in the UK with £10 Million Funding Round
June 14, 2024, 3:36 pm
Location: United Kingdom, England, London
Employees: 1-10
Founded date: 2022
Total raised: $14.72M
In a bold move to revolutionize the way private wealth is managed, London-based wealth management platform, Sidekick, has successfully secured a total of £10 million in funding. This significant investment will enable Sidekick to continue scaling its team, expanding its product lineup, and securing a European license, solidifying its position as a key player in the financial services industry.
The funding round consisted of £5.3 million raised in a seed round and an additional £4.7 million through a debt facility. Co-led by Pact VC and TheVentureCity, with support from MS&AD, Blackwood, and 1818, alongside previous investors Octopus Ventures, Seedcamp, and Semantic Ventures, the round signifies a strong vote of confidence in Sidekick's mission to democratize access to wealth management tools and products.
Sidekick's unique approach to wealth management targets a demographic of investors who have outgrown traditional stock picking and robo-advisory services and are actively seeking ways to grow their wealth more strategically. By offering a comprehensive set of financial services tailored to the needs of founders, tech workers, lawyers, and other professionals, Sidekick aims to empower individuals to take control of their financial futures.
Matthew Ford, Co-Founder and CEO of Sidekick, emphasized the company's commitment to addressing the growing wealth disparity and providing innovative wealth management solutions to a broader audience. With over a million individuals in the UK seeking support for their financial goals, Sidekick's mission to make wealth creation more accessible and inclusive is more relevant than ever.
One of Sidekick's key offerings is its actively managed flagship equities product, which was launched in January. With a low minimum portfolio requirement of just £1,000, investors gain access to expertly managed investments, regular portfolio updates, market insights, and broader investment themes typically reserved for high-net-worth individuals with portfolios exceeding £500,000.
In addition to its flagship product, Sidekick also introduced a Portfolio Line of Credit, a unique lombard lending product designed to help investors stay invested over the long term while providing access to liquidity when needed. This innovative feature allows investors to borrow up to 40% of the value of their portfolio, backed by their investments, without the risk of a forced sale, enabling them to maintain a long-term investment horizon.
Monik Pham, Founding Partner at Pact VC, praised Sidekick for its commitment to addressing wealth disparity and providing inclusive wealth creation opportunities to a segment of investors often overlooked by traditional financial services. By offering a range of innovative financial products and services, Sidekick is reshaping the private wealth landscape for the new generation of investors.
With its recent funding round and a clear vision for the future, Sidekick is poised to continue its mission of democratizing wealth management and empowering individuals to build generational wealth in the long term. By removing technological and distribution barriers, Sidekick is paving the way for a more inclusive and accessible financial future for all.
The funding round consisted of £5.3 million raised in a seed round and an additional £4.7 million through a debt facility. Co-led by Pact VC and TheVentureCity, with support from MS&AD, Blackwood, and 1818, alongside previous investors Octopus Ventures, Seedcamp, and Semantic Ventures, the round signifies a strong vote of confidence in Sidekick's mission to democratize access to wealth management tools and products.
Sidekick's unique approach to wealth management targets a demographic of investors who have outgrown traditional stock picking and robo-advisory services and are actively seeking ways to grow their wealth more strategically. By offering a comprehensive set of financial services tailored to the needs of founders, tech workers, lawyers, and other professionals, Sidekick aims to empower individuals to take control of their financial futures.
Matthew Ford, Co-Founder and CEO of Sidekick, emphasized the company's commitment to addressing the growing wealth disparity and providing innovative wealth management solutions to a broader audience. With over a million individuals in the UK seeking support for their financial goals, Sidekick's mission to make wealth creation more accessible and inclusive is more relevant than ever.
One of Sidekick's key offerings is its actively managed flagship equities product, which was launched in January. With a low minimum portfolio requirement of just £1,000, investors gain access to expertly managed investments, regular portfolio updates, market insights, and broader investment themes typically reserved for high-net-worth individuals with portfolios exceeding £500,000.
In addition to its flagship product, Sidekick also introduced a Portfolio Line of Credit, a unique lombard lending product designed to help investors stay invested over the long term while providing access to liquidity when needed. This innovative feature allows investors to borrow up to 40% of the value of their portfolio, backed by their investments, without the risk of a forced sale, enabling them to maintain a long-term investment horizon.
Monik Pham, Founding Partner at Pact VC, praised Sidekick for its commitment to addressing wealth disparity and providing inclusive wealth creation opportunities to a segment of investors often overlooked by traditional financial services. By offering a range of innovative financial products and services, Sidekick is reshaping the private wealth landscape for the new generation of investors.
With its recent funding round and a clear vision for the future, Sidekick is poised to continue its mission of democratizing wealth management and empowering individuals to build generational wealth in the long term. By removing technological and distribution barriers, Sidekick is paving the way for a more inclusive and accessible financial future for all.