WealthOS, a cloud-based wealth management platform founded by Sri Lankan entrepreneurs, has secured £4 million in seed funding. The round was led by Barclays Bank, with participation from Main Set, a division of Capricorn Capital Partners UK Limited.
This significant investment will be used to enhance WealthOS’s platform, expand its distribution network, and further scale its Sri Lanka-based product and engineering operations. The company aims to revolutionize the wealth management sector by providing a fast, user-friendly digital infrastructure that democratizes access to wealth management services.
“I couldn’t have asked for a better group of investors,” said Anton Padmasiri, CEO and Founder of WealthOS. “We are excited to demonstrate how our platform empowers organizations to offer exceptional omnichannel wealth management products to clients, all while achieving high speed and cost-efficiency.”
Barclays’ confidence in WealthOS is evident in their early-stage investment. Andrew Challis, Co-Head of Principal Investments at Barclays, commented, “We’re pleased to have supported WealthOS from their inception. Their talented team has leveraged the investment to achieve commercial success in record time. This continued investment aligns with Barclays’ commitment to innovation and the opportunities fostered through our Rise Growth Academy.”
WealthOS’s recent achievements include launching the UK’s first cloud-native and API retail pensions (SIPP) technology and establishing a strategic partnership with Quai Digital.
Main Set, the investment arm of Capricorn Capital Partners UK Limited, is also impressed by WealthOS’s potential. Ioto Iotov, Founder and Managing Partner, stated, “Given our experience in wealth and investment, we recognize the immense potential for digitization in wealth management. WealthOS’s solution has demonstrably achieved product-market fit and is poised to be adopted by a wide range of wealth, retirement, and savings companies.”
This funding round marks a significant milestone for WealthOS, solidifying their position as a key player in the evolving wealth management technology landscape. With a talented team, innovative solutions, and strong industry backing, WealthOS is well-positioned to disrupt the traditional wealth management space and make these services accessible to everyone.