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
New research has revealed which fund manager is the most recommended by financial advisers to their clients, as well as the most preferred research houses.
The departure of BlackRock’s head of global client business Mark Wiedman after his 21-year tenure has prompted a reshuffle, with several senior executives receiving promotions.
The volume that financial advisers have invested in private credit funds could be among disclosures that providers have to make to ASIC amid a regulatory crackdown on private markets.
Platinum Asset Management has appointed Northern Trust to provide asset servicing solutions for their $11 billion Australian funds.
