Sidekick has raised GBP 7.8 million in Series A funding to expand its wealth management platform and scale investment products traditionally limited to private banking clients.
Following this announcement, the round was led by Eos Ventures and the Development Bank of Wales, with participation from Koro Capital and existing investors including Seedcamp, MS&AD Ventures, TheVentureCity, PactVC, Blackwood, 1818 Venture Capital, and Semantic Ventures.
Expanding access to private banking tools
According to the official press release, the UK-based fintech was developed in order to address professionals whose financial needs have outgrown entry-level investment applications but who find traditional private banking costly and inaccessible. The platform combines long-term investing, customised portfolios, private market access, and Lombard lending, representing a facility that allows customers to borrow against investment portfolios without liquidating assets. In the UK, Lombard lending has historically been restricted to private banking customers.
The funding round will enable Sidekick's platform to continue to offer low-cost public market investing alongside managed portfolio strategies such as All Weather, designed to manage risk across varying market conditions. At the same time, eligible investors will be given the possibility to access private market opportunities, capabilities typically reserved for high-net-worth clients. The platform is set to also provide cash management tools, including Multi Shield Savings, which distributes deposits across multiple partner banks within a single account to optimise Financial Services Compensation Scheme (FSCS) protection.
Scaling operations and expanding its team
Proceeds from the funding round will be allocated to team expansion, product development, and customer growth. Sidekick is focusing on establishing operations in Cardiff with support from the Development Bank of Wales, aiming to create roles in customer service, compliance, and operations.
In addition, the investment reflects broader shifts in wealth management, where digital platforms are applying technology to segments that have remained largely unchanged. With this in mind, the financial institution is expected to continue to focus on meeting the needs, preferences, and demands of clients and users in an ever-evolving market, while prioritising the process of remaining compliant with the regulatory requirements and laws of the industry as well.
