Amadeus Capital Partners has supported a $12.75m B round investment in online investment marketplace, Covestor, alongside other existing investors Union Square Ventures, Bay Partners and Spark Capital.
Founded in 2006, Covestor is widely regarded as a pioneer in bringing separately managed accounts (SMAs) online in a transparent marketplace. Investors can compare and select from a transparent marketplace of money management talent that includes renowned portfolio managers and seasoned investors. Covestor’s Portfolio Sync technology automatically replicates trades, providing clients the convenience of “set and forget” functionality and the protection of Covestor’s proprietary trade filtering. The company has offices in Boston and London.
Covestor will use the proceeds to accelerate its growth and continue its mission of providing investors with access to alpha-focused portfolio managers in an online marketplace. With over 100 portfolios available on covestor.com, the company provides exceptional levels of transparency and liquidity to investors who believe that actively managed portfolios can perform better than index averages.
Commenting on the investment, Amadeus CEO and Covestor Board member, Anne Glover, said: “Covestor has made great strides since we first invested, using proprietary technology to connect individual investors seeking higher than market index returns with carefully selected portfolio managers who share that goal. We are delighted to continue our support”.
For further information, please contact: Chantal Ligertwood, PR adviser to Amadeus, 07976 229 210