Schroders takes minority stake in Qwil Messenger

Schroders has taken a minority stake in Qwil Messenger, a cloud native chat platform that connects clients and employees of multiple firms and their brands.

Qwil Messenger, a safe and compliant chat platform which enables firms and clients to communicate directly through one app, joined Schroders’ Cobalt programme earlier this year. It was the first FinTech start-up to have joined its global in-residence programme.

Cobalt was launched to help financial services-focused start-ups collaborate with Schroders to support their development and help tackle today’s investment and industry challenges.

Charlotte Wood, head of innovation and FinTech Alliances at Schroders, said: “We believe that Qwil’s product solves a real industry challenge, increasing the ease of communication for staff, clients and partners while ensuring the highest standards of privacy and confidentiality are achieved. With the implementation of GDPR and the growing focus on data security, the timing is excellent for Qwil’s product to gain momentum in the market.”

Since being part of Cobalt, Qwil Messenger has made substantial progress building their platform, culminating in the deployment of the live service for customers in July. The platform is now being used within various parts of Schroders’ businesses in addition to other financial services and professional firms.

Headquartered in London, Qwil Messenger is a highly secure and compliant multi-tenant instant messaging platform designed specifically to connect all professional firms and their clients through one single app.

Its product aims to ensure each user’s identity is verified & trusted, their privacy maintained, and business data kept secure and protected in line with regulatory requirements including MiFID II & GDPR.

Peter Reading, CEo and co-founder of Qwil Messenger, added: “Schroders’ investment in Qwil Messenger is a real show of support for the work we have been doing since joining the Cobalt programme. With our growth plans across all professional service industries we believe the backing of one of the largest asset management company globally will enable us to further expand our platform and scale more quickly.”

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