Income Lab taps BridgeFT's API, Centricity to offer SDIs, and more. — WealthTech Fusion, 17 Nov

Welcome to our new weekly newsletter. Here, key events from the Wealthtech universe converge to meet your curiosity. Subscribe and enjoy!

What’s in:?

• Groundfloor gets on Deloitte Technology Fast 500.
• Farther reports an AUM leap.?
• Aiviq explains how to get one.
• Grip Invest teams up with Centricity for a wider array of fixed-income investments.
• Income Laboratory will use BridgeFT's WealthTech API.
• Nitrogen has a new Chief Executive Officer.

Let’s explore the news.

Groundfloor Finance , a wealthtech platform with over $1 billion in investment volume, has received recognition from three national awards.

The accolades highlight the company's growth and innovation in both investing and lending solutions. The awards include:

• Deloitte Technology Fast 500 company for the third time, recognizing its substantial revenue growth over three years
• Best Alternative Investments Platform finalist in Benzinga's Global Fintech Awards
• IMN SFR Awards finalist in the Best Fix-and-Flip Lender of the Year category

Groundfloor recently launched its third-generation investing platform, Groundfloor 3.0, offering a mobile-first approach for creating diversified portfolios of high-yield real estate investments.

Farther , a technology-centric wealth management firm, has reported assets under management (AUM) of $1.6 billion.

This marks a significant increase from its $670 million AUM just six months ago. The company reached the $1 billion AUM threshold in September, making it one of the fastest venture-backed WealthTech startups to achieve this milestone.?

Recently, Farther closed a $31 million Series B funding round in four days, led by Lightspeed Venture Partners. The round brought the company's valuation to $131 million.?

?? Bird’s Eye View

Wealthtech Aiviq emphasizes the importance of strategic investment in differentiators for asset managers to drive growth in assets under management (AUM).

With the increasing pressure on fees and intense competition, asset managers are urged to carefully assess internal investments in new capabilities. Aiviq highlights that the "build everything at any cost" mentality may hinder asset managers from executing effective AUM growth strategies.?

The company points out trends in the industry, such as:

• The application of data science for developing new investment strategies.
• Product innovation to meet the demand for alternatives and active ETF solutions.
• The use of Generative AI to enhance client experiences and automate content.?

The company encourages asset managers to evaluate the benefits of proprietary solutions versus common industry solutions. Also, Aiviq emphasizes the value of external solutions in unifying internal teams and breaking down information silos.

?? Wealthtech Cahoots

Grip Invest , a SEBI-licensed online bond provider platform, has partnered with wealthtech Centricity WealthTech to expand its offerings in fixed-income investments.

The collaboration will see Grip introduce products such as Securitised Debt Instruments (SDIs) and corporate bonds to Centricity's platform. The new products will provide investors with alternative fixed-income opportunities promising higher yields.

The partnership aims to diversify Centricity's portfolio and enable wealth managers and financial advisors on its platform to access Grip Invest's SDI products and corporate bonds for client portfolios through an end-to-end API suite.

Income Lab has chosen BridgeFT 's WealthTech API to aggregate multi-custodial data to enhance its software for ongoing retirement income management and client engagement.

BridgeFT's API enables Income Lab, a provider of retirement income management software, to access multi-custodial data, providing on-time, accurate client investment account information to power its planning tools. The seamless integration of custodial data through the WealthTech API is expected to empower advisors using Income Lab's software to offer accurate and realistic planning through all stages of retirement.

?? C-Level Reshuffle

Nitrogen has appointed Dan Zitting as Chief Executive Officer.?

Zitting, known for his role as former CEO of Galvanize, now Diligent , brings extensive experience in growth, risk, and compliance functions. The appointment completes Nitrogen's next-generation leadership team, with Aaron Klein transitioning out of operational leadership by the end of the year.?

Klein will continue to serve on Nitrogen's board of directors, as a champion of Fearless Investing at the 2024 Fearless Investing Summit, and as a strategic advisor to Nitrogen's leadership team. Nitrogen aims to accelerate the expansion of its platform under Zitting's leadership to revolutionize how financial advisors and wealth management firms grow.

That's it for the week.

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Sources: PR Newswire, Business Standard, FinTech Global, Yahoo Finance, Crowdfund Insider, and PR Newswire again.