Sidekick Raises £8.5M for Wealth Management Platform

Sidekick secures £8.5M for its wealth management platform, fueling client expansion, product development, and licensing ambitions in Europe. Learn more about the investment and growth plans here.

Sidekick, a leading wealth management platform for investors, has successfully secured £4.5M in a Seed round and an additional £4M through a debt facility. The seed round was co-led by Pact VC and TheVentureCity, with support from MS&AD, Blackwood, and 1818, as well as previous investors Octopus Ventures, Seedcamp, and Semantic Ventures. The debt financing was provided by Columbia Lake Partners, known for backing successful companies like Mews, Factorial, Griffin, and Contentsquare.

Investors using Sidekick can borrow up to 40 percent of the value of their portfolio, subject to assessment, without the risk of a forced sale. This credit facility is backed by the investor's portfolio, allowing Sidekick to offer larger loan amounts, lower fees, and greater flexibility. The platform is designed to cater to investors looking for more long-term investment opportunities, rather than short-term gains through stock picking or robo-advisory services.

A recent report from the Resolution Foundation highlighted the growing wealth divide, with households in higher wealth deciles holding a larger portion of their assets in higher-returning investments. This disparity is attributed to varying liquidity needs, with lower-income households often holding more cash for unexpected expenses.

Sidekick's unique offering includes a Portfolio Line of Credit, a lombard lending product that helps investors stay invested over the long term while still having access to liquidity when needed. The company has obtained regulatory permissions from the FCA and launched its actively managed flagship equities product in January, setting itself apart as the only wealth management service in the UK to offer such a comprehensive solution.

Sidekick's innovative approach to wealth management provides investors with the tools and flexibility needed to grow their wealth over time, bridging the gap between traditional investment strategies and modern financial needs.