Wealthtech OneAdvisory, which enables client data management for RIAs, has raised $8m in seed funding.
The funding round for OneAdvisory was led by venture capital firm F-Prime Capital with help from existing investors Fika Ventures, Great Oaks and Twelve Below.
Go deeper with GlobalData
In addition, new investors CoFound Partners, The Compound Capital Fund, Flyover Capital, and Valor Equity Partners also participated.
OneAdvisory to Dispatch
The funding comes at a time when OneAdvisory has rebranded as Dispatch.
Co-founders Madalyn Armijo, Rafi Lurie, and Rob Nance decided to refresh the brand to better align with the company’s expertise. RIAs work with Dispatch because they want client data to seamlessly flow across their tech stack and the firm operates silently behind the various softwares that companies use.
Furthermore, Dispatch’s API gives technology companies integration access to the industry’s most popular wealthtech products.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataDispatch plans to use the fresh capital to invest heavily in both engineering and client service resources, responding to the increasing demand for a data connectivity platform. Also, the funding is intended to help the company form additional partnerships with CRMs, financial planning tools and custodians.
“We built Dispatch to enable advisers to spend more time with their clients and less time on duplicative data management. As an adviser, I was frustrated by the time spent maintaining data across multiple applications. Advisers can use Dispatch to build a custom tech stack with seamless data cohesiveness,” said Nance, Dispatch’s CEO. “We’ve received a warm welcome from the wealth management community, and we’re eager to introduce Dispatch to the broader industry.”
“Dispatch is defining the category of ‘data orchestration’ in wealth management, which makes the company a very exciting investment for us,” said David Jegen, managing partner of F-Prime’s technology fund. “The world-class team at Dispatch has proven to be adept at solving complex challenges in the finance industry and we’re excited to partner with them to address the data flow challenge across wealth management.”
Also this week, investment funds from Morgan Stanley Expansion Capital led the $34m Series C funding round for global analytics platform Vortexa.
Existing investors Notion Capital, Monashees, Metaplanet, FJ Labs and Communitas Capital also participated.
The funding round brings the total amount raised by Vortexa to more than $60m, which will be used to boost the company’s international expansion, technology and quality of service to its clients and partners.
