This week I’m taking a look at a trio of tales from the wealthtech beat: SS&C’s accomplished acquisition of Calastone, the emergence of a brand new UK-based wealthtech, and a take a look at two, not-quite-contrasting interpretations of funding for wealthtechs in Q3 2025.
SS&C Applied sciences completes $1 billion acquisition of Calastone
Initially reported in July, SS&C Applied sciences introduced this week that it has accomplished its acquisition of Calastone. The corporate bought Calastone, a London-based, worldwide funds community and supplier of know-how options to wealth and asset managers, from world funding agency Carlyle for a value of £766 million ($1.03 billion). The transaction was funded by way of a mixture of debt and money.
“Calastone’s community and know-how additional strengthen SS&C’s management throughout world fund operations,” Chairman and CEO of SS&C Applied sciences Invoice Stone mentioned. “Collectively, we’ll speed up innovation for our purchasers, increase our attain, and proceed to simplify the best way the business operates.”
The acquisition will bolster SS&C’s options for fund administration, switch company, AI, and clever automation. The union may even facilitate the launch of a unified, real-time working platform to decrease prices, complexity, and operational danger for fund business members whereas offering enhanced distribution, investor servicing, and operational scalability.
Based in 1986 and headquartered in Windsor, Connecticut, SS&C Applied sciences supplies mission-critical, cloud-based options to greater than 22,000 corporations in monetary companies and healthcare. A member of the Fortune 1000 and a publicly traded agency on the NASDAQ below the ticker SSNC, SS&C Applied sciences is the biggest impartial hedge fund and personal fairness administrator, and the biggest mutual fund switch company, on the earth.
Calastone runs the biggest world funds community, linking greater than 4,500 monetary organizations worldwide throughout 57 markets. The corporate processes greater than £250 billion ($334 billion) of funding worth every month, and maintains places of work in Luxembourg, Hong Kong, Taipei, Singapore, New York, and Sydney. With the finished acquisition, Calastone’s 250 staff will be a part of SS&C World Investor & Distribution Options, efficient instantly.
“That is an thrilling new chapter for Calastone,” firm CEO Julien Hammerson mentioned. “Becoming a member of SS&C offers our purchasers and staff entry to larger scale, funding, and alternative. We’re pleased with what we’ve constructed and stay up for contributing to SS&C’s continued progress and world success.”
UK wealthtech Clove emerges from stealth
London-based wealthtech Clove has emerged from stealth with €12 million ($14 million) in pre-seed funding in its coffers. The spherical, which was led by Accel, is thought to be one of many largest early-stage financings for a European startup this yr. Kindred Capital VC and Air Road Capital additionally participated within the funding, together with a handful of angel traders.
“With Clove, we’re searching for to interrupt the normal economics of monetary recommendation by combining the experience of human advisers with the effectivity of AI,” Co-Founder Alex Loizou mentioned. “Our objective is to make monetary planning extra accessible, reasonably priced, and efficient than ever earlier than, for everybody from younger professionals and aspiring entrepreneurs, to rising households and people beginning to consider retirement.”
Clove was launched by Loizou and fellow founder Christian Owens at a time when the UK’s Monetary Conduct Authority has decided that skilled monetary recommendation could make a major distinction—as a lot as 10%—in monetary outcomes in comparison with those that wouldn’t have entry to this recommendation. Loizou and Owens see a chance to offer this recommendation by way of a mixture of human perception and AI intelligence.
“Our goal is to make it potential to ship high-quality, personalised recommendation at an unprecedented scale,” Owens wrote on the Clove weblog. “As we began exploring this downside we found that almost all of what monetary advisers do isn’t truly recommendation, it’s admin. Through the use of AI to cut back that burden, we hope to present advisers extra time to do what they’re skilled to do: assist individuals make higher choices.”
Clove will use the funding to rent extra expertise forward of a full launch in 2026, topic to FCA authorization.
Smaller, however busier? Wealthtech deal exercise up, whole funding down in Q3 YoY
In accordance with FinTech World Analysis, wealthtech investments within the US dropped considerably yr over yr in Q3 2025. Deal exercise was strong by comparability, with 71 offers in Q3 2025 in comparison with 62 offers in Q3 2024, however whole funding dropped to $861 million this yr within the third quarter in comparison with $1.8 billion raised in Q3 2024. The common deal worth additionally declined, falling to $12.1 million this yr from a mean of $28.8 million in Q3 2024.
The analysts cited “persistent macroeconomic uncertainty” and, apparently, “evolving wealth administration applied sciences” for what it mentioned was a cautious, “lower-risk” strategy by traders.
To that remaining level, there could also be motive for optimism. Looking over an extended timeframe, the CB Insights State of Fintech Q3’25 Report famous that wealthtech funding was “sustaining momentum” and on monitor to double 2024 totals, having already topped 2024 ranges. In actual fact, CB Insights highlighted “robust confidence in digital-first wealth administration options” and vigorous hiring as optimistic indicators. The report famous that monetary advisor productiveness instruments, wealth administration banking and lending platforms, and AI funding intelligence platforms had been among the many prime sectors in fintech by way of headcount progress year-over-year.
Picture by Morgan Housel on Unsplash
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