Canadian wealth-as-a-service provider OneVest raises C$17m
OneVest will both grow its team and expand into the US.
Wealthtech OneVest has raised a C$17m to expand its business, in a Series A funding round led by Omers Ventues.
Canada-based OneVest was founded in 2021 and offers a wealth-as-a-service platform for existing financial institutions looking to overhaul their infrastructure with a modern modular platform.
Fintechs, banks and existing wealth managers can use OneVest to launch robo-advisor or new digital wealth management services.
The investment will be used to expand OneVest’s Toronto and Calgary teams, across sales, business ops, product and engineering, plus support OneVest’s expansion into the US.
The round takes OneVest’s total investment to date to $24m.
“We’ve built OneVest as a durable, highly scalable platform that can shape the future of wealth management,” said Amar Ahluwalia, OneVest’s CEO and co-founder.
“Financial institutions need exceptional experiences to meet both customer and advisor expectations when it comes to technology. The ability to implement a modern service with all the required compliance requirements built in, is compelling.”
Other investors participating in this latest round include Luge Capital, Panache Ventures, AAF Management, FJ Labs, Fin Capital, Pivot Investment Partners and Deloitte Ventures.