This platform aggregates family wealth management services, offering access to investments, pensions, tax, and inheritance planning in one place. Users can invest through ISAs, SIPPs, and GIAs with low or zero fees on over 200 funds, including refunded fees on select ETFs. Additionally, the service provides a cash marketplace featuring over 50 savings products from trusted UK banks alongside optional expert financial guidance.
Funding
$7.8M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Traditional investment platforms often have complex fee structures that are difficult for individuals to understand, potentially leading to unexpected costs and reduced returns. Many platforms also lack access to a diverse range of investment options, particularly private market funds, limiting opportunities for wealth maximization.
Solution
Prosper provides a transparent financial platform that simplifies investing and saving through a range of low or no-fee products, including pensions, ISAs, and general investment accounts (GIAs). The platform offers access to a cash marketplace with accounts from multiple banks, as well as curated public market funds and, for sophisticated and high-net-worth investors, private market funds. Prosper emphasizes an index-first investment strategy, refunding costs on 30 of the world’s most popular index funds and ETFs to minimize fees and maximize potential returns. By using scalable technology and industry relationships, Prosper aims to deliver cost-effective investment, savings, and pension products with clear and upfront fee disclosures.
Target Audience
Prosper targets individuals seeking transparent and low-cost investment and savings solutions, ranging from novice investors to sophisticated and high-net-worth individuals looking for access to diverse investment opportunities, including private markets.
Features
- Cash marketplace providing access to fixed-rate and notice accounts from multiple banks, with FSCS protection up to £85,000 per bank.
- Self-Invested Personal Pension (SIPP) with no cost to transfer or partially transfer existing pensions and ISAs.
- Stocks and Shares ISA offering access to a range of investments to grow money, with free transfers of old ISAs.
- General Investment Account (GIA) for flexible, unlimited investing beyond ISA and SIPP allowances.
- Access to expertly curated funds, including the Prosper Standard Fund, managed by experienced investment professionals.
- Private market fund access for sophisticated and high-net-worth investors.
- Fee transparency with a commitment to clearly displaying all fees before investments are made.
- Mobile app for convenient account management and investment tracking.