Wealth platform for high net worth individuals (HNWI) Prosper has raised £4m in a funding round led by venture capital firm Fuel Ventures.

Prosper’s aim is to “shake up” the way wealth is managed by ‘unlocking’ access to private markets and leveraging artificial intelligence (AI) to maximise HNWIs long-term wealth.

It has more than £200m in assets under administration and intends to increase its customer base, launch its private market investment offering, and build out its AI product with this latest investment.

Fuel Ventures, which invested £2m, was joined in the funding round by The Players Fund, an ‘athlete-led’ venture capital firm co-founded by ex-cricketer, Stuart Broad, and footballer, Chris Smalling.

Around 60 sportspeople from The Players Fund invested in Prosper’s round, including cricketer, Ben Stokes, and Olympic gold medallist, Dame Jess Ennis-Hill.

Prosper’s latest funding round follows its initial angel round, which saw support from investors including the founders of Monzo, Capital One, and Embark, as well as institutional angel investments from Andreessen Horowitz (A16Z), Connect Ventures, MMC Ventures, and Portfolio Ventures.

Commenting on the latest funding round, Prosper chair and co-founder, Ricky Knox, said: “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 critical at this stage of our growth. With this investment, we’re excited to expand our AI-driven solutions to serve even more clients and deliver exceptional value.”

Fuel Ventures founder, Mark Pearson, commented: “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.”

Prosper CEO and co-founder, Nick Perrett, said: “For far too long we have had a rough deal from wealth managers: high fees, or worse still hidden fees, companies that incentivise their people to sell products rather than giving us the help we need, and managing this entire process with painful PDFs and old-fashioned technology.

“I founded Prosper because this simply isn’t good enough. It’s time for wealth management to be shaken up and brought into the 21st century.”

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