Bite Investments, a fintech company with an alternative investment platform, has closed on its Pre Series A+ funding in a round led by JMP Group (JMP), an investment banking and alternative asset management firm headquartered in San Francisco, California.
“We are continuing to attract progressive partners who recognise the steady growth and related opportunities associated with both our robust fintech platform and the soaring global private equity market,” says Bite CEO William Rudebeck. “It is a testimony to how the financial industry and investor community are gravitating toward alternative investment opportunities, as well as digitalisation and its transformative value.”
Bite, which was founded in 2019 by Rudebeck and Henry Talbot-Ponsonby, CEO of VCP Advisors, the majority owners of Bite, is unique in its offerings and its platform. Bite’s technology enabled investment platform allows high-net-worth investors, independent financial advisors, wealth managers, family offices and other investment platforms to invest much smaller amounts than typical minimum buy ins, into top performing alternative investments, through aggregating commitments together, via feeder funds. In addition, it provides alternative market technology and fund solutions to help the wealth management market digitise its operations to become more efficient.
“We attracted a formidable team of shareholders and advisors and leveraged the deep technical expertise of our tech professionals to build a fintech platform that makes the user experience seamless by effectively managing the entire investor journey with ease and confidence, from client suitability, KYC, and accreditation to the investment decision and transaction, regulatory compliance, and due diligence,” says Rudebeck. “We also have incorporated great monitoring and reporting functionality.”
“We believe strongly in Bite’s mission of democratising access to alternative investments,” says Joseph Jolson, chairman and chief executive officer of JMP Group. “With the wealthtech industry developing at lightning speed, we are pleased to partner with an emerging leader through our investment. We are confident in Bite’s ability to execute on its growth plans by levelling the playing field and offering investors turnkey access to highly sought-after alternative asset management products that have often been out of reach in the past.”