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June 15, 2023

OneVest Raise $17 Million in Series A

The company's vision is to revolutionize the wealth management experience for financial institutions and customers

OneVest, a leading Wealth-as-a-Service platform based in Calgary, Alberta, and Toronto, has recently secured an impressive CAD$17 million in Series A funding. The funding round was spearheaded by OMERS Ventures, a prominent investor, and saw participation from esteemed existing investors such as Luge Capital, Panache Ventures, AAF Management, and FJ Labs. Additionally, new investors including Fin Capital, Pivot Investment Partners, and Deloitte Ventures joined forces to support OneVest's ambitious growth plans.

With this substantial capital infusion, OneVest aims to accelerate its growth trajectory, pave the way for its expansion into the highly promising US market, and fulfill other vital corporate objectives. The company has an unwavering commitment to enhancing the wealth management landscape through its comprehensive Wealth-as-a-Service platform.

OneVest's platform enables financial institutions to seamlessly integrate and configure various components of a tailored wealth management offering for their discerning customers. This flexibility allows institutions to cater to the specific needs and requirements of their clientele, ensuring a personalized and superior user experience. Furthermore, OneVest's solution empowers enterprises to automate and streamline administrative and middle office functions, which are currently burdened by manual processes.

Amar Ahluwalia, the Co-founder and CEO of OneVest, expressed his excitement about the company's future prospects, stating, "We've built OneVest as a durable, highly scalable platform that can shape the future of wealth management. 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." Ahluwalia believes that the injection of fresh capital will strengthen OneVest's ability to equip financial institutions worldwide with the necessary tools for a prosperous future. In line with its growth plans, OneVest intends to expand its talented team across various departments. This strategic expansion will bolster the company's enterprise sales, business operations, product development, and engineering divisions. By attracting top-tier professionals, OneVest aims to consolidate its position as a market leader in the Wealth-as-a-Service sector and continue driving innovation within the industry.

OneVest's recent Series A funding round marks a significant milestone in the company's journey to redefine wealth management. The substantial investment will fuel its expansion, facilitate the integration of cutting-edge technologies, and enable financial institutions worldwide to embrace a future-focused approach to wealth management. As OneVest broadens its horizons and strengthens its team, the company is poised to deliver exceptional value to both its clients and the industry as a whole.

Neil Hodgson-Coyle
Neil Hodgson-Coyle
Editorial chief at TechNews180
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