FinTech Startup opens access to wealth management
A UK FinTech start-up is opening up private market investment access to the wealth management industry by providing a digital marketplace for managers to use for their clients.
Private Markets Alpha (PM Alpha) is a digital marketplace for asset managers, asset managers and advisors to access private market investments, including asset classes such as alternative credit, venture capital, growth capital, private equity, real assets and co-investments, according to a press release sent to PYMNTS on Wednesday (31 . August).
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Accessing private markets is usually limited by high entry costs or with scenarios better suited to larger institutional investors.
“We aim to revolutionize private market investing because we firmly believe that broad access to these markets is critical to providing a wider range of asset classes to better meet the long-term needs of individual investors,” said Tom DowieCEO and co-founder.
“We believe that in the current economic climate wealth managers need to have a greater toolkit to provide better long-term solutions to their clients and that is what we aim to help them achieve,” added Douie.
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The startup strives to offer a one-stop-shop solution where customers can get timely access to the right products while asset managers reduce fees, paperwork and investment minimums.
Headquartered in London, England, PM Alpha was co-founded in January by Douie, Chloe Mercer, Chief Platform Officer and Head of Investment Operations, and Alexis Weber, Chief Investment Officer. The startup has so far raised close to £1 million through private fundraising.
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