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March 9, 2022

Wealthbox secures $31m funding from Frontier Growth

Wealthbox, a CRM software platform for financial advisors, has secured a $31m equity investment from growth equity firm Frontier Growth as part of its Series B financing round.

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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.

As part of the investment, Frontier will obtain a minority holding in the platform.

Wealthbox was founded in 2014 by John Rourke and Dan Ferranti.

The platform enables financial advisers working with wealth management firms and broker-dealers to track client relationships, manage operations, and collaborate as a team.

It is integrated with several custodial platforms and wealth-tech products.

Wealthbox CEO John Rourke said that the fresh capital will be leveraged to accelerate product development and innovation.

Rourke said: “Frontier Growth has an amazing track record in helping rapidly growing companies scale even faster, and we’re delighted to partner with them in our Series B round of financing.”

Following the investment, Frontier Growth’s Richard Maclean and Matt Williams of will join Wealthbox’s board of directors.

Frontier Growth managing partner and cofounder Maclean said: “Wealthbox’s talented team, impressive growth rate, and excellent business metrics are a great fit for the added support, expertise, and funding we offer.

“We look forward to the partnership with the Wealthbox team to help financial advisory firms better operate their businesses with Wealthbox as their hub software.”

Prior to investment from Frontier Growth, Wealthbox’s parent firm Starburst Labs spun out Wealthbase, a social trading app for retail investors.

With Wealthbase operating as an independent company, Wealthbox is currently the sole property of Starburst Labs.

Last month, French fintech Finary raised €8m in a Series A financing round to overhaul its platform to build a modern private bank.

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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