Timeline secures £10m funding led by BlackFin Capital
Timeline, the leading British Fintech platform dedicated to independent financial advisers, is thrilled to announce a £10m Series B funding round led by BlackFin Capital Partners, a private investment firm specializing in financial technology. This significant milestone aligns with Timeline's achievement of reaching an impressive £3 billion in Assets Under Management (AUM), solidifying the company's goal of doubling in size by the end of 2023.
Founded in 2018 by CEO Abraham Okusanya, Timeline has emerged as a trailblazing force in the financial advice industry.
The company provides Independent Financial Advisers (IFAs) with state-of-the-art financial planning software, including modules for client fact-finding, risk profiling, cashflow modelling, and investment analytics, as well as 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 IFAs.
Timeline's founder and CEO Abraham Okusanya stated, "This financing round will enable us to focus on providing financial advisors with cutting-edge technology that simplifies their workflow, enhances the client experience, and ultimately improves financial outcomes for millions of people in the UK. I'm thrilled that our mission has resonated so deeply with financial advisers and investors. With the UK's financial advice market reaching £1 trillion in AUM, we aim to be 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 crucial role in extending Timeline's reach and enhancing its product offerings. It will drive the development of new features, improvements to existing modules, and deeper integration with other financial platforms. Additionally, the funding will support Timeline's efforts to expand its market presence. Existing investors, including Mtech Capital, Darren Carter, and Adam Seale, are also participating in the funding round.
Loic Fonteneau, who led the round for Blackfin Capital Partners, commented, "We were highly impressed by Abraham and his team and are thrilled to support them in 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 that there are many growth opportunities ahead."
Timeline has experienced remarkable growth, earning the recognition as "the UK's fastest-growing discretionary fund manager" for both 2021 and 2022, according to independent research firm Nextwealth. The company has also become one of the fastest-growing fintech companies to achieve the £3 billion AUM milestone. This capital raise will enable Timeline to continue its organic growth while providing the flexibility to capitalize on strategic opportunities in the market, as stated by Timeline's Chairman, Adam Seale.
The synergy between Timeline's planning software and its cost-effective model portfolios empowers IFAs to cultivate strong client relationships while equipping them with top-tier tools to deliver optimal outcomes. The transaction has received approval from the Financial Conduct Authority (FCA).
About Timeline:
Timeline is a financial technology company that aims to help millions of people plan, invest for, and enjoy retirement with confidence. The company manages over £3 billion of AUM in its discretionary model portfolios and offers an integrated financial software suite that includes Fact Finding, Cashflow, Risk Profiling, Reporting, and Portfolio Analytics.
About BlackFin Capital Partners:
BlackFin Capital Partners is an independent private equity and venture capital firm investing in European companies across financial services and technology. With over $3 billion in assets under management as of June 2023, BlackFin manages more than $600 million in its venture strategy and has invested in approximately 20 fast-growing fintechs and insurtechs to date.
They've invested in Timeline
Get to know these Insurtech investors
Click here for a full list of 7,526+ startup investors in the UK