Cases & Deals

Convoy Global Holdings invests in Series D financing round by Nutmeg Savings and Investment Limited

Clients Convoy Global Holdings Limited

Jones Day acted for Convoy Global Holdings Limited on their initial investment of £24 million ($29.9 million) of Series D Convertible Preferred Stock in a private placement by Nutmeg Savings and Investment Limited. Convoy's investment leads the largest funding round by a digital wealth manager in Europe and is the largest fintech raise since Brexit. British Chancellor Philip Hammond has commented that the deal "confirms the UK's position as the global FinTech capital" and is "another international investment into a home-grown UK company, demonstrating that the UK is open for business". Convoy is exploring the possibility of forming a Hong Kong based joint venture with Nutmeg to introduce a digital wealth management platform to the Hong Kong market.