A technology startup which gives shareholders insight into where their funds are deployed has raised more than £15 million.
Tumelo, based in Bristol, provides APIs and white-label software to investment platforms, robo-advisors and pension providers to engage all investors with shareholder voting.
It gives shareholders a voice over issues such as CEO pay, board diversity and climate change. The vote preferences collected from investors are sent to fund managers, who control the power to create change through voting at company AGMs.
The Series A round was led by US-based Treasury and featured Legal & General, Fidelity International Strategic Ventures, Nucleus Adventure Capital, former IHS Markit CEO Lance Uggla and Jim Wiandt, founder of ETF.com.
They join Tumelo’s existing investors, including Jeremy Coller, CIO of Coller Capital and founder of the FAIRR Initiative, a collaborative investor network that raises awareness of the investment risk brought about by intensive livestock production.
“Tumelo has transformed from a student campaign into a daring FinTech with a blossoming team,” said Tumelo CEO Georgia Stewart.
“The incredible calibre of institutional and private investors who have committed to our vision and backed our growth is a testament to the strength of our mission, product, culture and execution to date.”
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