Registered office: St Helen’s, 1 Undershaft, London EC3P 3DQ. Alan Bristow, CEO of ICON Corporate Finance, said: 55 Basinghall Street Whatever, for both Wealthify and Aviva this feels like a good move. Aviva is taking a majority stake in robo investment startup Wealthify Aviva's acquisition of the Cardiff-based startup is … Wealthify now employs more than 40 people and manages the investments of 30,000 customers. Acquisition search results. Aviva and Wealthify are independently covered by the FSCS scheme, so a customer holding investments with both companies may be covered by the FSCS on each of their investment balances up to £85,000. Wealthify says it has grown significantly since its launch in 2016, expanding its original offering of Stocks and Shares ISAs and General Investment Accounts to now include Ethical Investments, Junior Stocks and Shares ISAs, and more recently Self-Invested Personal Pensions (SIPPs). Richard Theo leaves after four years in charge. Investments can go down in … Watch Tom Ward perform his stand-up and unveil the winning projects, companies and people of Banking Tech Awards 2020. Aviva plan to add Wealthify to its MyAviva digital hub alongside a suite of other online products and services. EC2V 5DU, Digital Banking State of the Market Report, Digital Wealth State of the Market Report, Alternative Lending State of the Market Report, LendInvest CFO Angelie Panteli passes away, New open banking app Yayzy launches ‘carbon off-setting-as-a-service’, Open Banking doubles its user-base to 2m Brits in just six months, Out now! “The investment is part of Aviva’s strategy to build customer loyalty by providing customers with a wide range of insurance and investment services, all managed through the convenience and simplicity of Aviva’s digital hub, MyAviva,” the company said upon announcing its financial accounts last year. Finextra. Wealthify CEO steps down as Aviva seals acquisition Wealthify. AltFi provides market-leading news, opinion, insights and events for the rapidly-growing alternative finance and fintech community. Click here for more information on our. Discover effortless, low-cost investing with Wealthify. Wealthify has gone through a pretty rock history in its ~4 years in existence. "Customer experience has become crucial for financial institu… twitter.com/i/web/status/1…, Banks and bad actors: the race to digitally adapt @TheFCA makes major changes following LCF and Connaught review Ben is a former Strategy Director for … Save my name, email, and website in this browser for the next time I comment. Your daily 7am download of all things alternative finance and fintech. Aviva recently completed its acquisition, so it has a big household name as an owner. Save Search . Since launching in 2016, the fintech has expanded its original offering of stocks and shares ISAs and general investment accounts to include ethical Investments, junior stocks and shares ISAs and self-invested personal pensions (SIPPs). Banco Itaú International picks Temenos Infinity to revamp wealth management, London BNPL fintech Zilch latest to enter UK market with $30m, Unit raises Series A funding to offer banking intergration, What the Fintech? Resources. List of Aviva Group 's 12 Acquisitions, including Neos Ventures and Wealthify. Your email address will not be published. This website uses cookies, including third party ones, fintechfutures.com/2020/12/denmar…, . After six years building up the company, Theo is taking the exit options included in the terms of Aviva’s initial investment in 2018. Cloud subscription consolidation platform Cledara lands $3.4m, “Most of Cledara’s initial clients came from organic growth. Read next: Banco Itaú International picks Temenos Infinity to revamp wealth management. Informa PLC is registered in England and Wales with company number 8860726 whose registered and Head office is 5 Howick Place, London, SW1P 1WG. Wealthify will be accessible to Aviva’s customers through its digital hub MyAviva, alongside other Aviva products and services. Aviva has spent more than £17 million on Wealthify At the time, Theo reasoned that Aviva’s investment would allow the fintech start-up to pursue its “ambitious customer acquisition targets”, as well as support new products, particularly JISA and SIPPs – which it has now done. Today’s purchase by Aviva of a majority stake in Wealthify has significant implications for the whole UK robo advice community and wider personal savings market.. fintechfutures.com/2020/12/fca-ma…, The 12th edition of the report has responses from over 750 senior banking executives the world over, with a focus o… twitter.com/i/web/status/1…, Useful insights, strong opinions, and a fintech buzzword jailhouse, Matching the right talent with the right organisation, https://www.fintechfutures.com/wp-content/themes/fintech_child/assets/images/logo/fintech-logo.png, Vacuumlabs partners with GPS, the award-winning paytech behind Revolut and Starling. Roboinvestment firm Wealthify has been acquired by Aviva in a deal that comes three months after the fintech company’s last fundraising round, in July. Aviva has spent more than £17 million on Wealthify. “The business needs a different set of skills than mine to take it through the next phase of growth and so it’s time for me to pass the baton,” Theo said in a LinkedIn post. As of June 2020, Wealthify is a wholly-owned subsidiary of Aviva. The additional undisclosed funding follows its $33 million raised in August this year. Actually, both of those things are true. Fintech and alternative finance headlines with an exclusive Editor's Note each week. Delivering new products and features that enable businesses large and small to realise breakthrough innovations. Website, you agree to the UK mass market download of all things alternative finance and fintech community the... Wealthify Limited, not Aviva UK digital, said the acquisition was another important step in ’. Below: Your email address will not be published we expect to be complete by Q1.! Platform Seedrs ; the fund ’ s services suite into its digital hub,.... 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