Seccl has passed one million investors relying on its software and services, as the investment infrastructure provider continues to scale at pace.
Its investor base has doubled in less than 12 months and now spans propositions from fintechs, banks, consumer finance brands, financial advisers and established wealth businesses. Seccl’s assets under administration and revenue are split roughly evenly between advised and direct-to-consumer platforms.
The milestone is the latest symbol of Seccl’s growing scale and momentum. Over the last 12 months, Seccl has:
- Migrated Monzo’s existing investment proposition onto Seccl’s infrastructure, just months after the two businesses first agreed to work together
- Powered new investment propositions for Tide and MoneySuperMarket, while coninuing to expand its presence in the advice market with new clients including Investment Quorum and Flying Colours
- Established Seccl Ireland as the first step in its European expansion
David Ferguson, Seccl’s executive chair, said:
“One million investors is a massive milestone for us, and I’m extraordinarily proud of what the team has built to get us here.
“The investment infrastructure market is changing rapidly. What’s clear from the scale and shape of our pipeline is that firms increasingly want technology that’s easier to work with, more adaptable and capable of moving at the same pace they do – from providers that can demonstrate genuine scalability, rather than simply point to how big they already are.
“I’ve spoken for a little while now about how change tends to happen gradually, then suddenly. Well, I think we’re at the ‘suddenly’ part. There’s still a lot of old infrastructure sitting underneath this market, but I think the next few years are going to get pretty interesting.”
Jonathan Dees, Seccl’s CEO, added:
“With more than one million investors now relying on our technology, Seccl is operating at genuine scale.
“More importantly, we’re supporting that growth with an operating model that’s proving it can scale efficiently with us. We’ve already processed more than 50 million transactions so far this year, at a rate of around 660,000 transactions per member of our operations team. We’re also seeing over 25,000 transfers initiated to Seccl-powered platforms each month – equivalent, we estimate, to roughly one in five UK platform pension transfers.
“There’s an interesting parallel with what our sister company Octopus Energy has already done in energy through Kraken, its now-demerged technology platform. Seccl is operating in a different sector, but the opportunity feels similar – to give customer-facing businesses better infrastructure to build on, and to power the next generation of investment propositions behind the brands people know and trust.”
Seccl’s one million investors represent roughly one in 20 UK retail investors.*
*Source: FCA Financial Lives 2024 survey, which estimates that 19.0 million UK adults hold retail investment products (excluding those whose only investments are investment property or other ‘real’ investments). Seccl’s one million investors are equivalent to approximately 5.3% of this population.