Worldpay vice-chairman Ron Kalifa recently said the UK’s fintech sector presents opportunities for “agile and innovative startups” and one company capitalising on that is online investment firm Nutmeg.
Born from a frustration about the investment world’s exclusivity and lack of transparency, the company invests customers’ funds based on individuals’ investment goals and appetite for risk, providing an online alternative to stockbroker platforms where customers make their own trading decisions.
Customers can set up a portfolio in less than 10 minutes and create as many funds as they like, topping up, transferring or withdrawing at will.
The company was conceived and founded in Silicon Valley in April 2011 by Nick Hungerford, formerly of Barclays, and William Todd, previously chief technology officer of an online trading platform for banks and brokers, then launched in London. Backers include Balderton Capital, Schroders and Sir Charles Dunstone.