Earlier this year Calgary.tech singled out wealth-as-a-service platform OneVest as a homegrown Calgary tech startup to watch on their quest to dramatically improve the wealth management experience for both financial institutions and their customers.
Today the fintech startup confirmed it with the news that they have raised a $17 million Series A funding round led by OMERS Ventures with participation from existing investors Luge Capital, Panache Ventures, AAF Management, FJ Labs, and new investors Fin Capital, Pivot Investment Partners and Deloitte Ventures.
The round will be used to, among other things, accelerate the company’s growth, expand into the US market and for other general corporate purposes.
Founded in 2021 by Amar Ahluwalia, Jakob Pizzera and Nathan Di Lucca, OneVest provides digital wealth management services that can be embedded in consumer-facing products through a set of simple APIs.
This enables fintechs, credit unions and traditional banks to offer a digitally native user experience for personalized wealth management to their end customers. And it can be launched in a matter of weeks.
“We’ve built OneVest as a durable, highly scalable platform that can shape the future of wealth management. Financial institutions need exceptional experiences to meet both customer and advisor expectations when it comes to technology. The ability to implement a modern service with all the required compliance requirements built in, is compelling,” said Amar Ahluwalia, Co-founder and CEO of OneVest.
“This new capital will help us ensure financial institutions around the world are well-equipped for the future.”
OneVest will be expanding its team across multiple departments, including enterprise sales, business operations, product, and engineering.