Scandinavian independent financial advice and management business Söderberg & Partners raises new funding to support its expansion plans in the UK.
The advice firm which recently appointed former Novia executives to lead its UK team, has said it has more than doubled in size since 2019.
In an effort to partner with up to 1,000 advisers in the UK within the next five years under the sub brand Söderberg & Partners Wealth Management, the firm hired Novia co-founder Bill Vasilieff as chair and former Novia chief operating officer Nick Raine as chief executive earlier this year (14 February).
With access to more than 4,000 funds, Söderberg & Partners plans to offer financial advice and investment solutions through its partnerships in the UK.
Söderberg & Partners has agreed to close a new share issue, raising approximately 2.3bn SEK (£171.3m). The new growth investment is being provided by KKR, an existing minority investor since 2019.
The firm will use this capital injection to facilitate and support ongoing expansion, particularly across its newest markets, the UK and Spain.
UK chief executive Nick Raine said: "This fundraise represents Söderberg's significant commitment to future growth here in the UK. Since our launch earlier this year, we have received a phenomenal response from adviser firms who are keen to find out more about what our proposition can offer."
