The funding round was led by some well-known industry figures including Graham Coxell CEO of Rowan Dartington; Allan Rosengren, founder of Falcon Group Plc; and Neil Hutchinson, founder at Forward Internet Group/Uswitch.
Alex Catto, formerly a director of Lazard & Co, and Matt Slatter, formerly managing director of Tabcorp and CFO and director of AXA Asia, will be joining Acordias’s board.
During 2012, Acordias focussed on the development of its 2.0 platform which it expects to go live this quarter. The funding will be used to bring 2.0 to market as well as to further develop its service offering across the board, the company stated.
Founded by twin brothers Andrew and Simon Wilkins in 2010, Acordias was recently appointed as preferred platform partner for the Federation of European IFAs.
Andrew Wilkins, chief executive of Acordias, said its platform service “is not only intuitive and easy to use but transforms the revenue and profit lines of our partner brokers”.
He added: “To get the backing of a group of investors with so much experience in the space is a strong validation of our business and our technology. As well as bringing us finance, we also get the involvement of the new board members and shareholders.”
