Sandbox Wealth, a NYC-based provider of a banking solution for non-bank financial institutions, raised $1.25M in Pre-Seed funding.
The round was led by NextGen Venture Partners, with participation from Northwestern Mutual Future Ventures, gener8tor, and RevTech Labs.
The company intends to use the funds to hire talent and further R&D related to building out its three-sided marketplace for advisors, bankers, and their clients.
Led by CEO Ray Denis, Sandbox Wealth provides RIAs and Family Offices with an open architecture banking platform to get access to deposits, lending, and enterprise-grade analytics.
The company seeks to provide a seamless experience for advisors, who would be partners and support their ability to drive organic growth, provide a full suite of private banking solutions, and deepen client relationships. For lenders, it provides an attractive channel to grow their deposits and lending base with lower-risk borrowers, including High-Net-Worth Individuals with stable financial profiles.
