The MS Wealth-lead funding round implied about a $75 million valuation for Ignition, and investors were told the raising would be the company’s final cash call before having a run at an IPO in the first quarter of 2022.
The company has a white-label software product, that can help asset and wealth managers service their clients. The software can be used to help facilitate everything from direct to consumer robo-advice to adviser-assisted financial advice.
“[Russell] is one of Australia’s leading financial services experts,” Ignition chairman Peter Meurer told this column about the hire.
“An appointment of this calibre will greatly assist Ignition as we continue to expand through partnerships with leading global institutions in 2021.”