British online wealth manager Nutmeg has raised £30m in fresh round of funding, which was led by Hong Kong-based financial advisory firm Convoy.

Convoy invested £24m. Other investors included Schroders, Balderton Capital, Pentech, Armada Investment Group and Nigel Wray.

In a company blogpost, Nutmeg said: “£30m makes this the largest ever raise for a digital wealth manager in Europe, and this is also the largest fintech fundraise since the UK voted to leave the European Union.

“This funding means that we will be in a position to offer more products and services to our customers, and to expand more rapidly across the UK.

“Nutmeg now manages over half a billion pounds for over 20,000 customers, and we are now four times the size we were in 2014, the time of our last fundraise,” the company added.

The wealth manager, which currently manages over half a billion pounds for more than 20,000 clients, last raised fund in June 2014.

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