Digital wealth technology firm Marstone has raised $5m in second tranche of its Series A financing round, taking its total raised capital to over $20m.
The round was led by Amerant Bancorp with a $2.5m investment.
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The first tranche, which was led by Apex Fintech Solutions, was completed in last May.
Other participants in Series A include Peter Kraus, John Thain, Kristen Dickey, Tom Freeman, Michael Rafferty, Richard Wastcoat alongside other early investors.
Established in 2013 by Margaret Hartigan and Robert Stone, Marstone is a digital wealth platform that offers customer-facing strategies for global organisations.
Its platform is designed to help financial institutions reach, acquire, and retain clients who seek straightforward information and engagement around their finances.
With the latest financing, Marstone plans to further diversify the financial planning and wellness toolset offered via its platform.
Marstone co-founder and CEO Margaret Hartigan said: “Consumers are hungry for highly personalised, digital-first wealth and banking experiences that grow their financial understanding and empower them to make smarter, forward-looking decisions.
“With Marstone, institutions can reinvent themselves, become – or remain – relevant as the massive coming wealth transfer accelerates, and stem the movement of assets to competitors through a diversity of digital offerings, products, and services.”
Aperture Investors chairman and CEO Peter Kraus remarked that Marstone has been a step ahead of the industry since its inception,
Kraus said: “The team had the foresight to prioritise backend integrations and end-user experience, all while evolving the platform as consumer expectations shifted. As a result, they’ve created a solution that makes the process of financial planning and wellness personal, robust, and comprehensive.”
In 2018, HSBC Bank USA has partnered with Marstone to develop an investment advice platform called HSBC Wealth Track.
In 2107, financial services technology provider Fiserv partnered with the firm to deliver new digital investment advice solutions to its wealth management network.
