We're delighted to announce a £10m Series B funding round while also reaching the £3bn AUM milestone, positioning us firmly on the path to doubling in size by the end of 2023.
Our Series B funding round was led by Blackfin Capital Partners, a private investment firm specialising in financial technology. With offices in London, Paris, Brussels, and Frankfurt, Blackfin’s involvement marks a pivotal moment in Timeline's journey.
The funding round also includes participation from existing investors including MTech Capital, a Fintech VC with offices in London and Santa Monica, Darren Carter, board member of Peel Hunt, and Adam Seale, former CEO of Interactive Investor.
Accelerated Growth
As you may know, we have continued to grow exponentially in 2023 after being named, ‘the UK’s fastest growing DFM in 2021 and 2022’ in independent reports by Nextwealth. Achieving the £3 billion AUM milestone so quickly underscores our dedication to providing financial advice firms with exclusive access to a cost-effective framework, benefiting both clients and advisers alike.
Abraham Okusanya, our CEO and Founder, said:
“This financing round will enable us to double down on our mission of providing financial advisors with cutting-edge technology that simplifies their workflow, elevates the client experience, and ultimately improves financial outcomes for millions of people in the UK.
I'm truly delighted that our mission has resonated so deeply with financial advisers and our valued investors. The UK's financial advice market represents a staggering £1 trillion in AUM, and we aspire to rank among the top three providers of technology and Model Portfolio Services for IFAs within the next three years.”
Loic Fonteneau, who led the round for Blackfin Capital Partners, commented:
“We were highly impressed by Abraham and his team and are thrilled to be supporting them as part of their journey to deliver better outcomes for IFAs and their clients. Timeline has demonstrated a profound understanding of the financial advisory landscape and a resolute commitment to delivering innovative solutions. We are convinced there are a lot of growth opportunities ahead of them.”
As you may already know, our end-to-end financial planning platform provides financial advisers with everything they need at their fingertips, including modules for initial client fact-finding, risk profiling, cashflow modelling, investment analytics and Timeline Portfolios - a suite of low-cost, high-performing model portfolios.
What's next for Timeline?
This capital raise is a significant milestone for us.
Timeline chairman, Adam Seale said:
"This capital raise will enable Timeline to continue its impressive organic growth, while providing the flexibility to take advantage of strategic opportunities in the market."
Thank you to everyone who has been a part of the journey so far including all of the fantastic IFA’s and firms we work with. We are excited about what lies ahead!
Could Timeline’s technology help you take the next step in delivering exceptional value to your clients? Find out more here or book in a call with your regional contact.
Approval for the transaction has been received from the Financial Conduct Authority (FCA).
