Wealthtech OneVest secures CA$17m in Series A funding
Canadian wealth-as-a-service platform OneVest has secured CA$17 million (US$ 12.7 million) in a Series A funding round led by OMERS Ventures.
OneVest secures Series A funding
The round also saw participation from existing investors Luge Capital, Panache Ventures, AAF Management, FJ Labs, and new investors Fin Capital, Pivot Investment Partners and Deloitte Ventures.
Founded in 2021 and based in Calgary, OneVest offers an “all-in-one” wealth management platform to companies, enabling them to expand their product capabilities, enhance distribution, and automate and streamline front, middle and back office operations.
It offers “intuitive” investor and advisor interfaces, data aggregation functionalities, book of record, and a portfolio management engine. With its solution, OneVest claims banks and financial institutions can offer a customised wealth services offering “in weeks, not years”.
Amar Ahluwalia, co-founder and CEO of OneVest, says the platform has “the ability to implement a modern service with all the required compliance requirements built in”.
OneVest plans on deploying the funding towards accelerating its growth, expanding into the US market, and for corporate purposes including expanding its team across multiple departments such as enterprise sales, business operations, product, and engineering.
In April 2022, the wealthtech had secured $5 million in a funding round led by Luge Capital.
