Grafton Capital secures majority stake in Third Financial

The VC has so far invested £7m in Third Financial, which will use the latest funding to accelerate the growth of its platform and meet the evolving demands of the market.

Grafton founder and managing partner Edward Barroll Brown said in a statement that the company had been achieving steady annual growth of 40-50% since its launch, and more recently had done so while maintaining profitability.  

Previous funding
Grafton in 2015 invested £2.5m in Third Financial. A year later, it invested £1.5m in the company, and in 2019 it invested £1.25m to further support the expansion of the company's platform.

Company
Founded in 2008 and based in London, Third Financial is a provider of wealth management software. Its main product, Tercero, is a customer relationship and portfolio management system for wealth managers, and recently launched an investment platform targeted at a broad range of investment firms.

The company has fewer than 200 employees, according to its LinkedIn profile, and generated revenues of £5.2m in 2019, according to its annual filing. 

People
Third Financial – Ian Partington (group CEO).
Grafton Capital – Edward Barroll Brown (founder, managing partner).

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