Ashcombe is pleased to announce that it has advised Flagstone Investment Management, a leading cash management and deposit aggregation platform in the UK, on its Series A equity financing from a number of private investors.
The financing will allow Flagstone to accelerate significantly its technology development and sales effort, building on the exclusive cash product partnerships it has developed with retail wealth managers managing more than £200bn of retail assets, including St James’s Place.
The Series A financing was closed in record time of approximately one month from launch, illustrating the strategic attractiveness of the business to sophisticated investors. Ashcombe participated in the round, marking its third investment in the firm.
Andreas Wesemann, Partner at Ashcombe, commented: “We are convinced that the highly attractive proposition of the Flagstone product to retail investors, wealth managers and banks will make Flagstone the dominant cash platform for the retail, SME and charity sectors in the UK. We are pleased that Flagstone has been able to attract such a strong and diverse shareholder base which will support its growth in the future.”