Other well-known investors also took part in the round, including XTX Ventures, the venture capital division of XTX Markets, an algorithmic trading company.

In 2020, Wealthkernel raised £4.5 million for its Series A, and in 2022, it raised a further $7.5 million.

WealthKernel, which was established in 2015, offers businesses investing features via an API, including trading, custody, brokerage, and customer onboarding.

The company has assisted companies like Wealth8, Wahed, and Claro Money in breaking into neglected wealth services markets, which range from ESG to halal and ethical investing.

With this additional capital, WealthKernel hopes to expand into the European market, building on its previous success in US equities trading.

WealthKernel's CFO, Aqsa Tariq, states: "WealthKernel is expanding quickly at the moment, which is why we need this funding. With the launch of our newest offering in the US equities market, we have been steadily growing our service offerings over the past few months. The additional funds will support our efforts to expand our market share and keep introducing cutting-edge solutions to the wealth management sector."