Co-founded by Jakob Pizzera (MFE 2011), OneVest secures $5M in seed funding

April 26, 2022 by BetaKit Josh Scott

OneVest wants to make it easier for banks and FinTech startups alike to roll out digital wealth management experiences and services. 

The startup has nabbed $5 million CAD in seed funding and the support of FinTech-focused investors like Luge Capital and National Bank’s NAventures to accelerate the growth of its wealth management offering.

Amar Ahluwalia founded OneVest in early 2021 alongside COO Jakob Pizzera (MFE 2011) —a Shopify, Element AI, and Ritual alum—and CTO Nathan Di Lucca. Combined, the trio has spent over 30 years building and working in the financial services and tech sectors.

OneVest is part of a growing list of FinTech firms looking to make it easier for other financial services and FinTech firms to launch financial products. This group includes Synctera and Cybrid. In Canada, D1g1t also sells wealth management software to enterprise clients, while Mako Fintech aims to help wealth management professionals digitize their workflows. However, neither offer an embedded wealth management platform like OneVest.

OneVest caters to a range of different customers, including consumer FinTech companies, credit unions, traditional banks, and wealth management firms. The startup’s end-to-end platform can be embedded in consumer-facing products via APIs. Fellow Calgary-based FinTech startup Neo Financial recently became the first company to launch an investment service, Neo Invest, using OneVest’s platform.

Going forward, OneVest plans to use the seed capital to double its headcount, grow its sales, and support its product development plans. The startup currently has about 25 full-time employees, and intends to reach 50 over the next year by adding developer, engineering, finance, investment, business development, and marketing staff.

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