Fintech iPartners in private funding round
A pair of former investment bankers are seeking backers for their fintech business which is designed to open up alternative asset classes to high net worth investors.
Travis Miller, a former managing director at UBS in Sydney, and ex-Macquarie and CBA banker Rob Nankivell are in front of high net worth investors this week pitching their business, iPartners.
iPartners has investment platform software that enables direct investment in institutional grade alternative assets on the same terms as professional investors.
It has already raised more than $45 million capital, has more than 2500 registered wholesale investors and is said to be cash flow positive for the financial year to date.
Its pitch is underpinned by the structural shift towards direct investing by high net worth investors, and away from the use of advisers.
iPartners reckons there are about 460,000 high net worth investors in Australia and 54 per cent of them are self directed, using platforms to access investments.
The company is now seeking to raise another $3 million in ordinary equity at a $15 million pre-money valuation, with the ability to take up to another $2 million in oversubscriptions.
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