Fuel Ventures, one of the UK’s leading venture capital firms, has led a £4 million funding round in Prosper, a high-net-worth wealth management platform that combines cutting-edge AI with expert financial insights.
Fuel Ventures contributed £2 million of the total round, which also saw participation from existing investors.
Prosper, which already has more than £200 million in assets under administration, plans to use this capital to scale its customer base, launch its private market investment offering, and accelerate development of its AI-driven solutions. By leveraging AI, the company aims to deliver a highly personalised customer experience and diversify clients’ portfolios, potentially leading to stronger long-term returns.
This round follows an earlier angel investment that brought on an impressive roster of backers, including the founders of Monzo, Capital One, World First, Tandem, Azimo, and Embark, along with institutional investments from Silicon Valley’s Andreessen Horowitz (A16Z), Connect Ventures, MMC Ventures, and Portfolio Ventures. Prosper’s founding team includes veterans from fintech companies such as Nutmeg and Tandem Bank.
Talking about the investment, Mark Pearson, founder of Fuel Ventures, said: “Prosper stands out as a truly innovative player in the wealth management space. Their use of AI to provide tailored financial help for clients at scale addresses a significant market need. Nick, Ricky, and the Prosper team are already making huge waves in the finance industry, and we look forward to seeing how they continue to redefine how wealth management services are delivered in 2025.”
Ricky Knox, chairman and co-founder of Prosper, added: “We are thrilled to close our latest investment round and have the likes of Fuel Ventures join us on this journey to reshape wealth management. Their belief in our mission to revolutionise wealth management in favour of the customer is so important to us. With this investment, we’re excited to expand our AI-driven solutions to serve even more clients and deliver exceptional value.”
With the support of Fuel Ventures, Prosper is poised to set a new standard in wealth management, offering a modern alternative for high-net-worth clients seeking technology-driven services and transparent investment strategies.
