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June 29, 2021

Marstone raises additional funding to offer customised wealth services

By Verdict Staff

Digital wealth technology firm Marstone has raised $5m in second tranche of its Series A financing round, taking its total raised capital to over $20m.

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Analyze opportunies within the wealth management market in APAC

GlobalData’s ‘Asia-Pacific Wealth Management: Market Sizing and Opportunities to 2026’ report provides a comprehensive overview of the Asia-Pacific (APAC) wealth management market.
  • The report analyzes the APAC wealth and retail savings and investments markets. This includes affluent market size, both by number of individuals and the value of their liquid assets.
  • The affluent population grew by 5.3% in 2021 and is expected to grow at an AAGR of 4.8% between 2022 and 2026.
  • The value of liquid assets held by the affluent segment surged by 8.4% in 2021, backed by economic recovery. HNW individuals’ financial wealth grew by 12%, while mass affluent individuals’ wealth grew by 6.0%.
  • The report provides an analysis of factors driving liquid asset growth. It is also split into asset classes - equities, mutual funds, deposits, and bonds.
  • The affluent population are more risk-tolerant and invest a significant proportion of their investments in risky assets such as equities, compared to emerging affluent and mass market individuals.
The report also provides data and insights on the size of offshore holding of HNW investors in the APAC region.
by GlobalData
Enter your details here to receive your free Report.

The round was led by Amerant Bancorp with a $2.5m investment.

The first tranche, which was led by Apex Fintech Solutions, was completed in last May.

Other participants in Series A include Peter Kraus, John Thain, Kristen Dickey, Tom Freeman, Michael Rafferty, Richard Wastcoat alongside other early investors.

Established in 2013 by Margaret Hartigan and Robert Stone, Marstone is a digital wealth platform that offers customer-facing strategies for global organisations.

Its platform is designed to help financial institutions reach, acquire, and retain clients who seek straightforward information and engagement around their finances.

With the latest financing, Marstone plans to further diversify the financial planning and wellness toolset offered via its platform.

Marstone co-founder and CEO Margaret Hartigan said: “Consumers are hungry for highly personalised, digital-first wealth and banking experiences that grow their financial understanding and empower them to make smarter, forward-looking decisions.

“With Marstone, institutions can reinvent themselves, become – or remain – relevant as the massive coming wealth transfer accelerates, and stem the movement of assets to competitors through a diversity of digital offerings, products, and services.”

Aperture Investors chairman and CEO Peter Kraus remarked that Marstone has been a step ahead of the industry since its inception,

Kraus said: “The team had the foresight to prioritise backend integrations and end-user experience, all while evolving the platform as consumer expectations shifted. As a result, they’ve created a solution that makes the process of financial planning and wellness personal, robust, and comprehensive.”

In 2018, HSBC Bank USA has partnered with Marstone to develop an investment advice platform called HSBC Wealth Track.

In 2107, financial services technology provider Fiserv partnered with the firm to deliver new digital investment advice solutions to its wealth management network.

Free Report
img

Analyze opportunies within the wealth management market in APAC

GlobalData’s ‘Asia-Pacific Wealth Management: Market Sizing and Opportunities to 2026’ report provides a comprehensive overview of the Asia-Pacific (APAC) wealth management market.
  • The report analyzes the APAC wealth and retail savings and investments markets. This includes affluent market size, both by number of individuals and the value of their liquid assets.
  • The affluent population grew by 5.3% in 2021 and is expected to grow at an AAGR of 4.8% between 2022 and 2026.
  • The value of liquid assets held by the affluent segment surged by 8.4% in 2021, backed by economic recovery. HNW individuals’ financial wealth grew by 12%, while mass affluent individuals’ wealth grew by 6.0%.
  • The report provides an analysis of factors driving liquid asset growth. It is also split into asset classes - equities, mutual funds, deposits, and bonds.
  • The affluent population are more risk-tolerant and invest a significant proportion of their investments in risky assets such as equities, compared to emerging affluent and mass market individuals.
The report also provides data and insights on the size of offshore holding of HNW investors in the APAC region.
by GlobalData
Enter your details here to receive your free Report.

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