Fidor Bank’s Digital Marketplace Features Nutmeg as Inaugural Partner
Fidor Group has been at the forefront of fintech innovation since it received its banking license in 2009. Today, the company’s U.K. challenger bank announced that Nutmeg is one of two inaugural partners for Finance Bay, the bank’s new marketplace that aims to offer clients access to alternative investment opportunities. The second inaugural partner for the launch of Finance Bay is equity crowdfunding platform Seedrs. The fintech marketplace will host additional partners, including a number of debt-based P2P lending platforms, in the coming months.
Katharina Rausch, Head of FinanceBay, Fidor’s Fintech marketplace, said, “Fidor has long welcomed affluent and financially curious customers to our digital bank and based on their investment appetites we have built an exciting suite of investment products made accessible to customers via a handful of carefully curated Fintech partners. Our fintech marketplace will be instrumental in offering exciting investment opportunities to many of Fidor’s UK based customers.”
Founded in 2011, Nutmeg’s online wealth management platform seeks to democratize saving and investing. The company manages portfolios, ISAs, and pensions and offers a range of fully managed and fixed allocation portfolios. Martin Stead, CEO of Nutmeg, said, “We are passionate about making quality wealth management available to everyone and initiatives like Fidor’s Fintech marketplace, make great strides toward this goal.”
U.K.-based Nutmeg showcased its technology at FinovateEurope 2012 in London. In 2016, the company was honored at Your Money Awards, ETF.com Awards, and FSTech Awards. The company has raised a total of almost $90 million.
Fidor has demoed at FinovateEurope 2011 and presented at FinDEVr New York 2016. The Munich-based company was recently acquired by France’s Groupe BPCE. Last month, Fidor Solutions appointed former ABN Amro exec, Geert Ensing, as its new Chief Information Officer.