Our investment in Nosso

Resources

8 Mar 2022

By Tosin Agbabiaka

Investment thesis

Over the coming decade, the UK is set to experience the greatest intergenerational wealth transfer it has yet to witness, as over £1tn is set to pass from baby boomers to younger generations.

For most families, archaic tax laws make the wealth transfer process a challenge: finding the right advice for planning for the future or choosing the appropriate investment schemes for one’s family is either complicated or prohibitively expensive.

Therefore, traditional wealth management firms have struggled to serve a new younger, financially conscious generation. Unicorn tech platforms have since emerged, disrupting this space and facilitating greater accessibility through automated investing and financial advice.

However, these new tech solutions have only offered a “single-player” approach to wealth generation. This means that they provide limited support for both a collaborative approach to savings and investment that a family takes as well as the evolution of a family’s needs over time.

Nosso’s goal is to make investing in a child’s future the whole family’s affair, thereby offering a tech-driven collaborative approach to savings and investments for the modern family. The company’s platform allows parents to set up, contribute to, and manage funds across various key events in a child’s life.

Importantly, the platform enables other stakeholders, such as grandparents, aunts and uncles, godparents, to actively contribute financially to these milestones and capture the memories tied to each event in one place. This offers a bridge between multiple generations, allowing them to collaboratively build and pass down wealth in a simple and tax efficient manner

By offering financial support at each life event—education, home ownership, general savings and more—Nosso aims to embed itself in a family’s life from the beginning and become its financial hub as it evolves.

Who are the pioneers

Co-founder and CEO Youssef Darwich is passionate about bringing wealth management services into the lives of ordinary families. As the former Head of Product at Octopus Wealth, and Head of Operations (and second employee) at Tide, he brings over a decade’s worth of experience in financial services and first-hand experience in scaling high-growth organisations.

Sigurjón Ísaksson, Nosso’s co-founder and CTO, contributes a passion for Machine Learning and Financial Engineering to building technology to transform financial services for families. He previously worked as an engineer at Eigen Technologies and Samsung and holds an MPhil from the University of Cambridge.

Why us

As a firm, we have deep experience in disrupting old wealth management solutions, from investing in early-stage businesses in the industry to developing in-house solutions at Octopus Group. Moreover, many of us—parents ourselves—strongly connect with the pain point that Nosso is directly addressing. Therefore, we were compelled by Nosso’s approach of using wealth management as a wedge for both creating a new customer unit of focus (i.e., the extended family) and fostering a collaborative relationship as the family journey evolves. Given our relationship with Youssef and the team for many years, we are excited to support Nosso in executing their vision and transforming the way families build and transfer wealth.