Nutmeg
“Can a digital-first wealth manager become the de facto retail investment and pension platform for UK consumers under JP Morgan's global distribution?”
Founded2011
HQLondon, England, United Kingdom
Total raised$69.3M
Latest roundAcquired by JP Morgan Chase
IndustryFintech / Investment
The story
Founded in 2011 as a UK digital wealth manager offering algorithm-driven ISAs and investment portfolios to retail consumers. Expanded into pensions via a white-label arrangement with Embark Services Limited. Pioneered open banking payments in UK wealth management through a TrueLayer integration in 2021. Was subsequently acquired by JP Morgan Chase in 2021 as the bank sought to expand its digital consumer banking footprint in the UK.
Last 12 months
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Product timeline
2011
Nutmeg founded as an online discretionary investment manager in London, offering ISAs and investment portfolios.· pivot
2017
Launched personal pension product, operated in partnership with Embark Services Limited.· banking
2021
Partnered with TrueLayer to enable open banking payments for wealth management, a first for the sector.· banking
2021
Acquired by JP Morgan Chase, becoming part of the bank's international consumer business.· acquisition
Regulated entities
1
regulatory licence held by Nutmeg
Licence types, jurisdictions and registered entities are in the Embedded Finance Index report.
The stack
1 layer disclosed in Nutmeg’s embedded-finance stack
Open banking
Accounting gap: none