Sandbox Wealth raises $1.25 million
Sandbox Wealth, a banking solution for non-bank financial institutions, announced a pre-seed fundraise of $1.25 million led by NextGen Venture Partners, with participation from Northwestern Mutual Future Ventures, gener8tor, and RevTech Labs.
Founded in 2023, Sandbox wants to provide RIAs and Family Offices access to deposits, lending, and analytics through its open architecture banking platform.
The new capital will support Sandbox’s efforts to build out its three-sided marketplace for advisors, bankers, and their clients.
“We believe that Sandbox Wealth provides a compelling business model focusing on data, open architecture private banking, and AI-powered insights. The company has uncovered a lucrative segment at the intersection of liquidity solutions and wealth, which will fill a banking services gap faced by RIAs and Family Offices, with a diverse selection of products from many lenders.” – Jon Bassett, Managing Partner, NextGen Venture Partners,
“We are seeking to empower advisors with a broad range of banking and lending products from a network of lenders that meet the unique needs of sophisticated clients. Another important segment for Sandbox is banks, which now have another channel to deploy lucrative balance sheet products with a modern customer and employee experience. We can combine data aggregation and analytics with liquidity products clients want, enabling expedited underwriting on loans and easier money movement between institutions across our platform.” – Ray Denis, CEO of Sandbox Wealth.
