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SC Ventures and NEXT176 to launch a wealth platform that makes financial and wealth planning accessible to all

Singapore, April 4, 2024 – SC Ventures, Standard Chartered’s innovation, fintech investment and ventures arm, and NEXT176, the venture building and investment arm of Old Mutual, a Pan-African financial services group, have joined forces to launch an inclusive financial wellness platform.

With a shared vision to address financial inclusion, and improve access to budgeting and financial planning tools, this strategic partnership will merge two ventures: SC Ventures-backed Autumn, a financial goals and wealth planning app that was incubated in Singapore; and NEXT176-backed 22seven, a budget aggregation and tracking app based in South Africa. 

This inclusive wealth management platform will aim to bring simple, affordable, AI-led and Shariah-compliant wealth management solutions to users in the Middle East, Africa and beyond. 

“The UAE and the Middle East are emerging as one of the leading destinations for wealth management globally — whether it’s high net worth income population, Millennials, or Gen Z — there is demand for technologically advanced and highly-customised wealth management tools supported by ongoing financial education,” said Benito Mable, Venture and Strategic Partnerships Lead based in the UAE. “The assets under management (AUM) in the Middle East rose 16% to US$1.2 trillion in 2022, according to BCG. The region is expected to grow further and remain the fourth-largest wealth hub in the world making UAE a perfect market for our base.”

Soon to be headquartered in the United Arab Emirates (UAE), the Middle East’s financial hub, this innovative wealth management platform, is expected to provide access to advanced budgeting, savings, and investment solutions for users in the Middle East, Africa, and Southeast Asia regions, creating a long-lasting positive impact for the future generations. 

“At SC Ventures, we believe strongly in improving access to financial services through a combination of literacy and digital-first platforms. This partnership is a strong example and will contribute to rewiring the DNA in Banking and financial services in our communities,” said Alex Manson, who leads SC Ventures. “In NEXT176, we found a strategic partner with a shared vision to democratize wealth management. We are looking forward to an impactful venture that will help its clients take ownership of their financial future.”

The merger, subject to required approvals, is expected to close in Q2 2024 and create a holistic financial wellness platform aimed at democratizing wealth management. An estimated US$2.4 trillion of investable wealth is held on the African continent; according to the Africa Wealth report 2023 published by Henley & Partners. Wealth management remains generally exclusive to High-Net-Worth Individuals with at least US$1 million in liquid assets, who can access private banks and advisor networks. The average individual lacks access to tools and products to plan, grow and protect their wealth. 

“This is a significant milestone for 22seven and aligns with NEXT176’s aspiration of positively impacting a billion lives with a product that gives South Africans and now other geographical markets impactful insights into their financial lives,” said Vuyo Mpako, Managing Director, NEXT176. “The synergies with this merger enhance and extend our current product offerings and we are excited to expand beyond Pan Africa and Southeast Asia into the Middle East.”


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SC Ventures
SC Ventures is a business unit that provides a platform and catalyst for Standard Chartered to promote innovation, invest in disruptive financial technology and explore alternative business models.

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Standard Chartered
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Backed by Old Mutual, NEXT176 was founded to create significant impact in specific ecosystems that affect the future of emerging economies, by creating businesses that deliver disruptive and sustainable growth. We’ve pulled together a team of experienced financiers, technologists, and entrepreneurs to build, invest in and partner with startups and corporates to realise this founding purpose. For more information, visit and follow NEXT176 on LinkedIn, Twitter and YouTube.