London-based AI fintech startup Prosper has raised £4 million in a round led by Fuel Ventures, with participation from Capital One, World First, Tandem, Azimo, Embark and Comply Advantage, the founders of Monzo, and Ukrainian fund Roosh Ventures.
London-based AI fintech startup Prosper has raised £4 million in a round led by Fuel Ventures, with participation from Capital One, World First, Tandem, Azimo, Embark and Comply Advantage, the founders of Monzo, and Ukrainian fund Roosh Ventures.
Founded by Nick Perrett and Ricky Knox, Prosper is developing a wealth management platform that uses artificial intelligence to provide a seamless, personalized investment management experience.
The startup’s description notes that it was created to «maximize the potential wealth of our members.» It offers retirement, investment, and savings services that have clear rates.
Members benefit from free access to 30 index funds from the world’s leading asset managers, and pay no platform access or transaction fees. In the future, Prosper plans to charge members a «fair platform fee» as well as «low and fair» fees for any other investment products.
«For too long, we’ve had a bad relationship with money managers: high fees or hidden fees, companies that incentivize their people to sell products rather than help. It’s time to revolutionize wealth management,» said Nick Perrett, CEO and co-founder of Prosper, in a statement.
Since launching in 2020, the platform has grown to now manage over £200 million in assets, with the aim of transforming wealth management and improving investment outcomes for its users.
«Prosper’s vision for private wealth management is exactly what today’s high-net-worth clients are looking for. The rapid growth in assets in just one year, from £14M to £200M, and investments from fintech leaders demonstrate a strong product-market fit and the team’s ability to execute ambitious ideas at the highest level,» said Sergey Tokarev, co-founder and partner at Roosh Ventures.
Prosper will use the £4 million to expand its client base, introduce private markets investments and improve its artificial intelligence technology to enhance user experience and increase investment returns.
Recall that earlier, the American startup Toothio — a developer of a marketplace that helps connect certified dental specialists with clinics — attracted $5 million in investment. Among the investors was the Roosh Ventures fund.
This is a venture fund that invests in startups at stages from Pre-seed to Series A in various industries, focusing mainly on the areas of corporate SaaS solutions, fintech, gaming, and AI-based products.
Over the past three years, the fund has invested in such well-known startups as Deel, TheGuarantors, Oura, Pipe, Alma, Playco, Dapper Labs, Arkis, and over 40 other companies. The fund has offices in Kyiv, Paris, and London.
