Wealth management platform Prosper has raised £4m in a round led by Fuel Ventures with participation from existing investors.
The platform, which has over £200m in assets under administration, will use the funds to rapidly scale its customer base, build out its AI product and launch its private market investment offering.
Prosper is said to be at the forefront of transforming wealth management by combining innovative technology with expert financial insights.
By leveraging AI, the London-based FinTech aims to revolutionise their customer experience and diversify customer investments, leading to higher potential returns.
“We are thrilled to close our latest investment round and have the likes of Fuel Ventures join us on this journey to reshape wealth management,” said Ricky Knox, Prosper’s co-founder and chairman.
“With this investment, we’re excited to expand our AI-driven solutions to serve even more clients and deliver exceptional value.”
Mark Pearson, founder of Fuel Ventures, added: “Prosper stands out as a truly innovative player in the wealth management space.
“Nick, Ricky and the Prosper team are already making huge waves in the finance industry and we look forward to seeing how they continue to redefine how wealth management services are delivered in 2025.”
The news follows Prosper’s initial angel round, which saw support from the founders of Monzo, Capital One, World First, as well as Silicon Valley firm Andreessen Horowitz (A16Z), Connect Ventures, MMC Ventures, and Portfolio Ventures.