Timeline raises £6m ($8m) Series A funding to revolutionise financial adviser technology

Timeline raises £6m ($8m) Series A funding to revolutionise financial adviser technology

Timeline has successfully raised £6m of Series A financing to fund its rapid new business growth and enhance its market-leading financial planning technology and model portfolio service for financial advisers.

The round was led by MTech Capital, a financial services focused venture capital firm with offices in London and Santa Monica. Other major participants in the financing include leading global wealth management platform and existing investor, FNZ, and Darren Carter, Non-Executive Director at Peel Hunt.

Founded in 2018 by Abraham Okusanya, Timeline has developed an end-to-end financial planning platform for UK Independent Financial Advisers (“IFAs”), that includes modules for client fact find, risk profile, cashflow modelling, investment analytics and Betafolio – a suite of low-cost model portfolios used by firms and advisers. Betafolio currently has over £900m in assets under management. Timeline is the only platform in the UK market that provides IFAs with a fully digital, end-to-end financial planning and model portfolio client solution.

Timeline’s founder and CEO Abraham Okusanya said: “Timeline is on a mission to help 10 million people face their financial future and retirement with confidence by rebuilding the operating system for professional financial advice. We believe financial advisers will always play a critical role in ensuring people are making the right financial decisions for their future. With the right technology, they make a real difference for their clients and that’s why we’ve designed an operating system centered around them. The capital from this financing will enable us to accelerate our growth and secure a greater share of the market.”’

MTech Capital’s Co-Founder and Partner, Kevin McLoughlin, said: “Abraham is an exceptional entrepreneur with extensive experience in the IFA space. He has assembled a team with the skills and experience to deliver scalable technology and investment management solutions to an industry in need of modernisation. Advisers are looking for a single solution rather than having to cobble together various software packages. Abraham is solving a major problem in the IFA market.”

FNZ Group Chief Strategy Officer Din Mustaffa added: “As members of our App Store ecosystem, we are delighted to see the progress made by both Timeline and their discretionary fund management brand Betafolio over the last 18 months, with more expected to come over the next year. With only 7% of people in the UK accessing financial advice, Timeline helps advisers bridge the advisory gap with state-of-the-art technology and timely data. Timeline’s focus on lowering the cost of advice and investment is both noble and well aligned to FNZ’s mission of opening up wealth and making wealth management more accessible to more people.”

MTech Capital’s partner, Kevin McLoughlin, will join Timeline’s Board of Directors alongside an FNZ Group representative.

For all your financial planning needs visit the Timeline website for more information. 

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