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.