Ignition partners with Morgan Stanley for $35m capital raise
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.
Recommended for you
Pinnacle has reported a 151 per cent rise in net profit after tax in its half-year results, helped by overseas expansion and affiliate performance fees with further international deals in the pipeline.
Global asset manager Janus Henderson generated more than US$2 billion in net inflows during 2024, thanks to its strengthened intermediary channel and M&A activity.
Amid the rising demand for more flexible private equity investment options, LGT Capital Partners has launched a semi-liquid fund for wholesale investors in Australia and New Zealand.
The departure of Gerald Stack from Magellan could lead to redemptions as high as $8 billion, according to Morningstar, given the majority of assets in his infrastructure strategies are held by institutional clients.
