Timeline, a leading UK-based Fintech platform catering to independent financial advisers, achieves a major milestone with a £10 million Series B funding round, led by BlackFin Capital Partners, a specialist financial technology investment firm. Concurrently, Timeline surpasses £3 billion in Assets Under Management (AUM), positioning the company for significant expansion by the end of 2023.
Revolutionizing Financial Advising
Founded in 2018 by CEO Abraham Okusanya, Timeline has emerged as a trailblazer in the financial advice industry. The company offers Independent Financial Advisers (IFAs) state-of-the-art financial planning software, including modules for initial client fact-finding, risk profiling, cashflow modeling, and investment analytics. Additionally, Timeline Portfolios, a suite of cost-effective, high-performing model portfolios, sets the company apart by delivering these tools as an end-to-end integrated package, ensuring a seamless digital experience for UK-based IFAs.
Abraham Okusanya, Founder, and CEO of Timeline, expressed his enthusiasm, saying:
“This financing round will enable us to double down on our mission of providing financial advisors with cutting-edge technology that simplifies their workflow, elevates the client experience, and ultimately improves financial outcomes for millions of people in the UK. I’m truly delighted that our mission has resonated so deeply with financial advisers and our valued investors. The UK’s financial advice market represents a staggering £1 trillion in AUM, and we aspire to rank among the top three providers of technology and Model Portfolio Services for IFAs within the next three years.”
Fueling Growth and Innovation
The Series B funding will play a pivotal role in expanding Timeline’s reach and enhancing its product offerings. The investment will drive the development of new features, improvements to existing modules, and deeper integration with other financial platforms. Moreover, it will support Timeline’s efforts to broaden its market presence.
The funding round also includes participation from existing investors, such as Mtech Capital, a Fintech venture capital firm with offices in London and Santa Monica, Darren Carter, a board member of Peel Hunt, and Adam Seale, former CEO of Interactive Investor.
Loic Fonteneau, who led the funding round for Blackfin Capital Partners, commented:
“We were highly impressed by Abraham and his team and are thrilled to be supporting them as part of 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 there are a lot of growth opportunities ahead of them.”
In 2023, Timeline has continued its remarkable growth trajectory, building upon its recognition as “the UK’s fastest-growing discretionary fund manager” for both 2021 and 2022, as acknowledged by independent research firm Nextwealth. Furthermore, Timeline stands out as one of the fastest-growing fintech companies to achieve the £3 billion AUM milestone.
Timeline’s Chairman, Adam Seale, added:
‘This capital raise will enable Timeline to continue its impressive organic growth, while providing the flexibility to take advantage of strategic opportunities in the market’.
Empowering Financial Advisers
The synergy between Timeline’s planning software and its cost-effective model portfolios empowers IFAs to concentrate on nurturing strong client relationships while providing them with top-tier tools to deliver optimal outcomes for their clients.
Approval for the transaction has been received from the Financial Conduct Authority (FCA).
