Ignition partners with Morgan Stanley for $35m capital raise

fintech Morgan Stanley ignition

11 September 2020
| By Jassmyn |
image
image
expand image

Financial technology firm, Ignition has formed a strategic partnership with Morgan Stanley to raise up to $35 million in capital for the first, with a post-money valuation of $105 million.

This would be through a new series B capital raise and a partial sell down and be used to support business development and product research.

Ignition Advice co-founder and director, Mark Fordree, said: “The timing is right for Ignition to raise extra growth capital. Ignition is identified as one of a small handful of enterprise grade, advice platforms globally which have solved for insurance, wealth and pensions, as a white label customer first experience. We are now ready to scale and win significant market share.

“We are delighted to be working with Morgan Stanley, a global tier one firm that understands our journey and is able to support our business on the exciting road ahead.”

To help grow the business, Ignition would focus on strategic partnerships with core banking and wealth record keeping platforms that powered over 4,500 banks, including Avaloq which was announced earlier this week.

Read more about:

AUTHOR

Recommended for you

sub-bgsidebar subscription

Never miss the latest news and developments in wealth management industry

MARKET INSIGHTS

This verdict highlights something deeply wrong and rotten at the heart of the FSCP. We are witnessing a heavy-handed, op...

5 hours ago

Interesting. Would be good to know the details of the StrategyOne deal....

4 days 10 hours ago

It’s astonishing to see the FAAA now pushing for more advisers by courting "career changers" and international recruits,...

3 weeks 2 days ago

Insignia Financial has made four appointments, including three who have joined from TAL, to lead strategy and innovation in its retirement solutions for the MLC brand....

2 weeks 4 days ago

A former Brisbane financial adviser has been charged with 26 counts of dishonest conduct regarding a failure to disclose he would receive substantial commission payments ...

3 days 8 hours ago

Pinnacle Investment Management has announced it will acquire strategic interests in two international fund managers for $142 million....

2 days 11 hours ago