Convoy has led a $37.2m round for digital wealth manager Nutmeg, doubling its total funding to about $74m in the process.

The Russia-based bank invested in companies including Uber and eToro from the $100m first fund and is seeking between $200m and $250m for the second.

Fintech was on the agenda at the Web Summit conference in Portgual, which was attended by 53,000 people last week.

Credit Suisse, Swisscom, UBS, PwC Switzerland and Raiffeisen will test five startup innovations following Kickstart's 11-week accelerator program in Zurich.

Jung Woo Sung, formerly the chief financial officer and head of corporate development at SK Planet and Shopkick, has joined Hanwha Asset Management as CEO.

Sector focus: Financial Services