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Monday, June 17, 2024

Leading Fintech Timeline Raises £10m in Series B Funding, Surpasses £3bn AUM, and Expands its Footprint in Financial Advice

Timeline, a pioneering British Fintech platform dedicated to independent financial advisers, celebrates a successful £10m Series B funding round led by BlackFin Capital Partners, a specialised private investment firm in financial technology. This achievement coincides with Timeline surpassing an impressive £3 billion in Assets Under Management (AUM), firmly establishing its trajectory to double in size by the end of 2023.

Timeline, a financial technology company founded in 2018 by CEO Abraham Okusanya, has emerged as a trailblazer in the financial advice industry. The company provides Independent Financial Advisers (IFAs) with cutting-edge financial planning software, which includes modules for initial client fact-finding, risk profiling, cashflow modeling, and investment analytics. In addition, Timeline offers Timeline Portfolios—a suite of cost-effective, high-performing model portfolios. What sets Timeline apart is its ability to deliver these tools as an end-to-end integrated package, ensuring a seamless digital experience for UK-based IFAs.

Abraham Okusanya, Founder and CEO of Timeline, expressed his enthusiasm about the Series B funding round:

“This financing round will enable us to double down on our mission of providing financial advisors with cutting-edge technology that simplifies their workflow, elevates the client experience, and ultimately improves financial outcomes for millions of people in the UK.

I’m truly delighted that our mission has resonated so deeply with financial advisers and our valued investors. The UK’s financial advice market represents a staggering £1 trillion in AUM, and we aspire to rank among the top three providers of technology and Model Portfolio Services for IFAs within the next three years.

The Series B funding will play a pivotal role in extending Timeline’s reach and enhancing its product offerings. The investment will drive the development of new features, improvements to existing modules, and deeper integration with other financial platforms. Additionally, it will support Timeline’s efforts to expand its market presence.

This funding round also sees the participation of existing investors, including Mtech Capital, a Fintech VC with offices in London and Santa Monica, Darren Carter, board member of Peel Hunt, and Adam Seale, former CEO of Interactive Investor.

Loic Fonteneau, who led the round for Blackfin Capital Partners, commented:

“We were highly impressed by Abraham and his team and are thrilled to be supporting them as part of their journey to deliver better outcomes for IFAs and their clients. Timeline has demonstrated a profound understanding of the financial advisory landscape and a resolute commitment to delivering innovative solutions. We are convinced there are a lot of growth opportunities ahead of them.

In 2023, Timeline has continued its remarkable growth trajectory, building upon its recognition as “the UK’s fastest-growing discretionary fund manager” for both 2021 and 2022, as acknowledged by independent research firm Nextwealth. Furthermore, Timeline stands out as one of the fastest-growing fintech companies to achieve the £3 billion AUM milestone.

Timeline’s Chairman, Adam Seale, added:

This capital raise will enable Timeline to continue its impressive organic growth, while providing the flexibility to take advantage of strategic opportunities in the market’.

The synergy between Timeline’s planning software and its cost-effective model portfolios empowers IFAs to focus on cultivating strong client relationships, while also providing them with top-tier tools to deliver optimal outcomes for their clients.

Approval for the transaction has been received from the Financial Conduct Authority (FCA).

Sam Allcock
Sam Allcockhttps://businesslancashire.co.uk/
Sam Allcock is a highly regarded digital entrepreneur with over 20 years’ experience in online marketing for some of the World’s biggest brands. He has extensive knowledge and experience in SEO and digital marketing. He is based in Cheshire but has an interest in all things going on in the North West and enjoys contributing local news to the site.
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