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
Retailisation of private markets such as evergreen funds may seem like appealing options for wholesale and retail investors, but providers risk undermining trust if their products are unclear.
Ethical investment manager Australian Ethical has seen its funds under management rise by a third over FY25 to close out the year at $13.9 billion.
BlackRock Australia’s head of intermediary distribution James Waterworth has taken up a new distribution role at an alternative asset manager, while Antipodes has hired a distribution director.
BlackRock’s iShares ETFs have reported a record first half for inflows, gaining US$192 billion in the past six months, to see overall ETF assets under management rise to US$4.7 trillion as it launches its first active ETF in Australia.
