Conshohocken-based WealthHub Solutions has completed a $1.5 million seed round from investor Richard Vague, managing partner of Gabriel Investments, writes Michelle Caffrey for the Philadelphia Business Journal.

The fintech startup is hoping to capitalize on the traction of its product, a workflow software platform aimed at managers of trusts and family offices.

WealthHub Solutions CEO Jim Marks emphasized that the funding came directly from Vague and not his firm. It will be used to double the company’s current team of five.

According to Marks, WealthHub’s cloud-based software is designed to help financial professionals manage the complex mix of assets common in multi-generational family trusts or foundations.

It operates on top of Salesforce and has modules for managing various assets not available in other software products that focus on liquid securities.

“It’s a unique offering in the market,” said Marks. “I think partly because it is a fairly narrow market, in terms of the number of institutions, but it is one that’s filling a need.”

He added that getting backing for the product at this stage from Vague, one of the region’s most well-known investors, is validation for the company’s platform and approach.

Read more about WealthHub Solutions at the Philadelphia Business Journal by clicking here.

[uam_ad id=”64837″]