Wealth Management Platform Sidekick Secures Major £8 Million Investment
In a significant development for the UK fintech sector, wealth management platform Sidekick has successfully raised nearly £8 million in a Series A funding round. The investment, which is scheduled to be officially announced on Friday, represents a major vote of confidence in the company's innovative approach to financial services for professionals.
Strategic Investment Led by Industry Heavyweights
The funding round has been spearheaded by Eos Ventures, with substantial participation from the Development Bank of Wales. This strategic backing comes from a diverse syndicate of investors that includes Koro Capital, Seedcamp, MS&AD Ventures, TheVentureCity, PactVC, Blackwood, 1818 Venture Capital and Semantic Ventures.
Founded in 2022, Sidekick has positioned itself as a solution for professionals whose financial situations have grown beyond basic investing applications but who don't require the full services of traditional private banks. The platform specifically targets individuals who find themselves in this financial middle ground.
Comprehensive Platform Features
Sidekick's offering brings together multiple wealth management features that were previously only accessible through established private banking institutions. The platform provides users with:
- Long-term investment planning tools
- Personalised portfolio management
- Access to private market opportunities
- Lombard lending facilities that allow borrowing against investment portfolios
This comprehensive approach aims to bridge the gap between basic investment apps and full-service private banking, offering sophisticated tools without the traditional complexity and high costs.
Addressing a Growing Market Need
Matt Ford, founder and chief executive of Sidekick, explained the company's mission: "Many hardworking professionals appear financially successful on paper but remain uncertain about whether they're optimising their financial potential. They've progressed beyond entry-level investment tools, yet conventional wealth management often seems unnecessarily complicated and expensive for the value it provides."
"Sidekick has been designed specifically to eliminate unnecessary complexity while providing access to investment tools that have traditionally been confined to private banking environments," Ford added.
Expansion and Development Plans
The newly acquired capital will fuel several key growth initiatives for Sidekick. The company plans to expand its team significantly, accelerate product development, and support continued customer acquisition. A particular focus will be placed on expanding operations in Cardiff, where new roles will be created across customer service, compliance, and operational departments.
Industry Recognition and Future Vision
James Tootell, partner at Eos Ventures, commented on the investment: "Over the past decade, technology has revolutionised numerous aspects of financial services – from trading and everyday banking to credit and insurance – yet private banking has largely remained unchanged. Sidekick is applying a modern, digital-first approach to wealth management, delivering enhanced access, transparency and control to a segment that has historically been underserved."
The funding represents a significant milestone for Sidekick as it seeks to establish itself as a major player in the evolving wealth management landscape, particularly for professionals navigating increasingly complex financial situations.
