Nutmeg has announced plans to democratise its company ownership with a crowdfund later this year.

Working in conjunction with Crowdcube, the digital wealth manager will give eligible customers the opportunity to invest alongside existing institutional shareholders such as Convoy, Taipei Fubon Bank, Goldman Sachs and Balderton Capital.

Martin Stead, chief executive officer at Nutmeg, said: “This is an incredibly exciting time for Nutmeg, we continue to welcome new customers: both seasoned investors seeking a high-quality wealth management service at a much lower cost; and first-timers, attracted by intuitive technology and a team of investment experts that will manage their portfolios for them.

“We’re investing in new features for our UK customers, while also taking Nutmeg to new markets around the world, with our first international launch imminent,” he added.

Nutmeg’s transition from a startup to a scale-up business will be funded by both the crowdfund and investment secured in its recent Series E fundraise from Convoy and Goldman Sachs.

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