Schroders fund manager Nick Kirrage is among a handful of individuals from the asset management industry backing a new D2C investment platform from former Baillie Gifford fund manager Felicia Hjertman.
Tillit, previously named Vinco, closed a £1m funding round led by Techstart Ventures. Alongside Kirrage, Hjertman’s former colleagues from Baillie Gifford, Patrick Edwardson and Sarah Whitley, also participated in the funding round.
“To have raised £1m from a mix of institutional and individual investors in this unusual environment is pleasing and shows the D2C investment sector is ripe for change,” Hjertman (pictured) said.
Initially, Tillit had been targeting £500,000 in the funding round.
The platform will offer “best-in-class” funds to make investing easier for retail investors.
Techstart Ventures partner Mark Hogarth said the platform will cut through the “overwhelming choice and confusing jargon that is often associated with self-directed approaches to fund investing”.
A press release announcing the successful funding round also revealed software developer Paul O’Neill has joined the business as co-founder and chief technology officer. O’Neill will head up the tech side of Tillit, lead the platform build and be responsible for expanding the tech team.
Fairview Investing consultants Ben Yearsley and Gavin Haynes are also involved in the development of the platform.
The new business name, Tillit, means trust in Swedish. Hjertman is originally from Sweden and the press release said the name creates a strong link to Scandinavian values of transparency and equality.
Hjertman said: “The holy grail of financial services is trust, and we hope to earn this from our clients by creating an excellent investing experience that is genuinely fit for purpose for today’s digital retail investors.”