Prosper Secures £3.2m in Angel Funding to Develop Wealth-Tech Solutions

Last Updated on: 22nd November 2023, 01:39 am

On Wednesday 8 November, 2023, Nick Perrett, Ricky Knox and Phil Bungey, the founders of Tandem, Azimo, and Nutmeg respectively, announced the launch of their new wealth-tech platform, Prosper. The platform is designed to revolutionise how people save and invest, with the goal of maximizing their long-term wealth potential.

Prosper’s £3.2 million angel round was funded by the founders of Monzo, Capital One, World First, Tandem, Azimo, Embark, Comply Advantage, and the Connect, MMC and Portfolio Ventures.

Nick Perrett, founder and CEO of Prosper, noted: “Most people are totally unaware of what they are paying to have their money managed nor that these costs can literally cut their future wealth in half. Our mission is to change that for millions of people worldwide.”

He went on to add: “We also know just how much interest customers fail to get on their cash. We want to change that by making it easier to just keep cash on top rates. We are excited to give more back to our members, helping them get more of the life they want.”

Ricky Knox, Prosper’s co-founder and chairman, asserted that the investment universe has moved on, and that Prosper will provide access to private investment opportunities that potentially offer higher yields than the traditional mutual fund supermarkets.

Tom Blomfield, founder of Monzo, and Matt Cooper, cofounder of Capital One Bank, are among the early investors in Prosper.

Prosper is an appointed representative of RiskSave Technologies Limited, which is authorised and regulated by the Financial Conduct Authority (No. 775330). The platform provides access to zero-cost index funds that track the world’s major markets and is managed by leading asset managers, with the aim of slashing the bills that most of us never see. Ultimately, Prosper seeks to double customers’ returns over the long-term, returns that should be kept by those who invested them.

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