Calculus Capital backs Quai with £2m

The company will use the fresh funding to boost sales and complete several deals with UK financial institutions that have expressed interest in Quai's services.

Calculus invested via its latest EIS Fund. In late 2013, the investor led a £2.7m funding round for personal online financial management services provider Money Dashboard. The firm appointed Richard Moore as investment director in June last year. 

Company
Founded in 2011 and based in Peterborough, Quai provides digital administration services for the pensions, savings and investment industries. The firm was established by a team of former Legal and General, Brewin Dolphin and BNP Paribas Securities Services executives. The team believed that regulatory changes including auto-enrolment, RDR and Solvency II would change the way the aforementioned industries would provide savings products to individuals.

The firm's proprietary technology aims to reduce administrative costs and improve efficiency.

People
Susan McDonald is chairman of Calculus, while Tony Webb is managing director.

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• UK / Ireland
• Support services
• Expansion
• United Kingdom