The UK’s biggest robo-advisor has seen assets under management grow to over $798mn and customers exceed 25,000 at the end of 2016; however the company also reported a 5 percent increase in losses and a 10 percent increase in operating expenses; building up scale to eventually make money looks to be the biggest challenge for the growing fintech company. Source.
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The chart below is from PitchBook's fintech analyst report, "Part 3: Asset Management"; shows funds raised by companies offering robo advisor and digital wealth management services; according to PitchBook, institutional investment in fintech digital wealth management companies has been increasing since the financial crisis while millennial preferences have also increased demand. Source
