Global wealth management platform FNZ has invested Series A funds in proptech Nokkel.
The investment is part of a wider collaboration that sees Nokkel’s market leading solutions integrated into FNZ’s platform. Furthermore, this should open up wealth by empowering all people to create wealth through personal investment that runs parallel with aspects they care about the most.
Nokkel will use the investment from FNZ to grow its team and establish standardised property information infrastructure by connecting the traditionally siloed property and wider financial services worlds.
Adrian Durham, CEO and founder of FNZ, said: “Property is a natural extension of FNZ’s holistic approach to providing wealth solutions to financial institutions across the full wealth management spectrum. For many of us, our home is our most valuable asset – and one of the only assets where we can influence its value – and it shouldn’t be a portfolio afterthought.
“By investing in Nokkel we want to provide greater control and transparency over this asset – in line with what we have over our bank accounts, investments, and pensions. The aim is to enable our customers to better capture this asset class allowing them to deliver personalized financial advice and a set of solutions to as many people as possible, furthering our mission of opening up wealth.”
Roland Whyte, CEO of Nokkel, added: “Decisions around our homes, whether about buying, selling or how we live in them, have a huge impact not only on our finances but on all aspects of our lives. Yet the property market doesn’t make it easy for us. It’s illiquid, expensive, opaque, and slow – and it quite simply doesn’t serve its users. At Nokkel we want to do all we can to improve the experience.
“Partnering with FNZ as its exclusive provider of property solutions is a vital step on that journey. One which will enable us to create new solutions, supercharge our growth and, ultimately, help more buyers and property owners to realise their property dreams.”
By integrating Nokkel data into their platforms, financial institutions can offer customers a more holistic view of their portfolio. It currently has a profile for nearly all of the UK’s 28 million residential properties.