Prosper Secures £4M in Funding to Expand AI Innovations
Deal News | Jan 30, 2025 | Business Cloud
Prosper, a London-based FinTech focused on wealth management, has raised £4 million in a funding round led by Fuel Ventures. The company, which manages over £200 million in assets, aims to use the new capital to scale its customer base, enhance its AI capabilities, and introduce a private market investment option. Co-founder Ricky Knox expressed enthusiasm about the partnership with Fuel Ventures, highlighting Prosper's ambition to use AI to revolutionize customer experiences and potentially increase returns. The funding marks another milestone after Prosper's initial angel round, which involved prominent investors like the founders of Monzo and Silicon Valley's Andreessen Horowitz.
Sectors
- FinTech
- Wealth Management
- Artificial Intelligence
Geography
- United Kingdom – Prosper is based in London, playing a significant role in the UK's FinTech and wealth management sectors.
Industry
- FinTech – Prosper operates in the FinTech space by offering a tech-driven platform for wealth management.
- Wealth Management – The article discusses Prosper's focus on transforming wealth management with technology.
- Artificial Intelligence – The development and deployment of AI-driven solutions is a core focus for Prosper in their strategic growth.
Financials
- £4M – Amount raised by Prosper in the funding round led by Fuel Ventures.
- £200M – Assets under administration by Prosper.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Prosper | Target | Company | A London-based FinTech focused on wealth management. |
| Fuel Ventures | Bidding Company | Private Equity | A venture capital firm leading the recent £4M funding round for Prosper. |
| Ricky Knox | Co-Founder and Chairman | Person | Co-founder and chairman of Prosper, actively involved in the company's strategic direction. |
| Mark Pearson | Founder | Person | Founder of Fuel Ventures, emphasizing Prosper's innovation. |