Black-Owned Wealth Management Platform Secures $1.25M

Sandbox Wealth, a modern banking platform tailored for non-bank financial institutions, has raised $1.25 million in pre-seed funding.

The round was led by NextGen Venture Partners with additional backing from Northwestern Mutual Future Ventures, gener8tor, and RevTech Labs.

Transforming Wealth Management

Founded in 2023 by Ray Denis, Sandbox Wealth seeks to fill gaps in the wealth management sector by offering a platform that integrates deposits, lending, and advanced analytics.

This innovation particularly benefits Registered Investment Advisors (RIAs) and Family Offices by providing tools that enhance client relationships and support business growth.

Additionally, lenders gain access to high-quality, low-risk clients, helping them expand their portfolios.

“We are committed to empowering advisors and their clients with cutting-edge banking solutions, while helping lenders deploy their balance sheets efficiently,” said Denis in a statement shared with POCIT.

Driving Innovation with New Funding

The newly secured funding will accelerate the launch of Sandbox Wealth’s AI-driven platform. This technology uses real-time data aggregation to deliver actionable financial insights.

The company’s commitment to security is underscored by its SOC 2 certification, ensuring customer data is safeguarded.

Future platform features will include loan underwriting and financial data sharing through modern payment networks like RTP and FedNow.

In addition to the funding, Sandbox Wealth has joined RevTech Labs Class 21 and was selected for Northwestern Mutual’s Black Founder Accelerator, highlighting its dedication to innovation and diversity in tech.