Sidekick, a London, UK-based wealth management platform provider, raised £4.5m in a seed round and £4m via a debt facility.
The seed round was co-led by Pact VC and TheVentureCity and supported by MS&AD, Blackwood, and 1818, alongside previous investors Octopus Ventures, Seedcamp, and Semantic Ventures. Columbia Lake Partners, backers of Mews, Factorial, Griffin, and Contentsquare, provided the debt financing.
The combined £8.5m will see the startup continue scaling its team and expanding its product lineup while securing a European license. The company intends to use the funds to accelerate client expansion, enable further product development, and support licensing plans in Europe.
Co-founded by Matthew Ford and Pete Townsend, Sidekick offers a modern approach to wealth management for those looking to do more with their money and benefit from the financial advantages typically reserved for the ultra-wealthy. It provides financial strategies designed to maximize returns and navigate market complexities. Users can access exclusive investment opportunities, liquidity options, and (coming soon) alternative asset classes, unlocking new avenues for wealth accumulation.
Sidekick obtained a comprehensive set of regulatory permissions from the Financial Conduct Authority (FCA) and launched its actively managed flagship equities product in January. Offering a low minimum portfolio requirement of just £1,000, investors receive a premium product set and service, including expertly managed investments, regular portfolio updates, insights into market trends, and broader investment themes, typically reserved for a £500,000 to £1 million and upwards portfolio.
Sidekick also offers a Portfolio Line of Credit, a lombard lending product designed to help investors stay invested over the long term while still having access to liquidity when needed.
FinSMEs
13/06/2024