Schroders is pleased to announce it has taken a minority stake in IA Fintech member Qwil Messenger, the first fintech start-up to have joined its global in-residence programme.

Qwil Messenger – a safe and compliant chat platform which enables firms and clients to communicate directly through one app – joined Schroders’ Cobalt programme earlier this year.

This undisclosed investment formalises Schroders’ relationship with Qwil, underscoring the firm’s commitment to providing innovative asset and wealth management solutions that better serve clients.

Cobalt was launched to help financial services-focused start-ups collaborate with Schroders to support their development and help tackle today’s investment and industry challenges.

Since being part of Cobalt, Qwil Messenger has made substantial progress building its platform, resulting in the launch of a live service for customers in July.

Cobalt’s collaborative approach has enabled Qwil Messenger to deliver a product that meets the complex security and regulatory requirements of global enterprises.

The platform is now being used within various parts of Schroders’ businesses, in addition to other financial services and professional firms.

 

Graham Kellen, Chief Digital Officer, Schroders, said:

“Qwil has developed a product which we believe has significant potential to improve the engagement Schroders has with clients, partners and businesses. We are excited to be taking a minority stake in Qwil, joining their board and further backing its growth.

“This investment is already tangible evidence of the success of Schroders’ Cobalt programme.”

 

Charlotte Wood, Head of Innovation and Fintech Alliances, Schroders, said:

“We believe that Qwil’s product solves a real industry challenge, increasing the ease of communication for staff, clients and partners while ensuring the highest standards of privacy and confidentiality are achieved.

“With the implementation of GDPR and the growing focus on data security, the timing is excellent for Qwil’s product to gain momentum in the market.”

 

Peter Reading, Chief Executive Officer and Co-Founder of Qwil Messenger, said:

“Schroders’ investment in Qwil Messenger is a real show of support for the work we have been doing since joining the Cobalt programme. With our growth plans across all professional service industries we believe the backing of one of the largest asset management companies globally will enable us to further expand our platform and scale more quickly.

 

Schroders Cobalt programme is specifically targeting technology companies which have progressed beyond the conceptual or pre-product stage that offer solutions relevant to investment management.

Selected firms benefit from direct access to appropriate business divisions within Schroders, resources and potential investment.

To find out more about Qwil Messenger, please click here.