Nutmeg acquired by JPMorgan Chase

JUN 17, 2021

Balderton portfolio company, Nutmeg, is Britain's biggest digital wealth manager

Nutmeg launched in 2012 and now has more than 140,000 clients and over £3.5bn of AUM. The company offers a range of investment accounts, including ISAs, pensions and general investment accounts. 

A decade ago, Nutmeg was founded with an ambitious mission: to democratise wealth management by empowering nations of investors. Through technology innovation, hiring the best and brightest people and always pushing to do things better, we’re transforming an industry to help many more people achieve their financial goals and secure the future they want for themselves and their families.

Neil Alexander, CEO, Nutmeg

Neil Alexander, CEO, Nutmeg

 Balderton first invested in Nutmeg back in 2014

We first invested in Nick Hungerford and the Nutmeg team in 2014 as we loved the mission of democratising wealth management and the customer-first brand they were building. Over the last seven years it has been a privilege to work closely with Nick, Martin, Neil and their teams in massively expanding their customer base and product range. Their acquisition by JP Morgan is an important step in the journey of making high-quality wealth management accessible to all.

Tim Bunting, Partner, Balderton Capital

Nutmeg will form the bedrock of JPMorgan’s retail digital wealth management offering internationally over the long term, complementing the launch of Chase as a digital bank in the UK later this year.

The products and services enjoyed by Nutmeg clients will be unaffected and, with the deal set to complete later in the year after approvals are received, JPMorgan Chase and Nutmeg will be working closely on further developing their offering to the benefit of all clients.

We are building Chase in the UK from scratch using the very latest technology and putting the customer’s experience at the heart of our offering, principles that Nutmeg shares with us. We look forward to positioning their award-winning products alongside our own and continuing to support their innovative work in retail wealth management.

Sanoke Viswanathan, CEO of International Consumer at JPMorgan Chase


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