Nutmeg has attracted investment of £12m from an Asian bank, bringing the amount it has raised in its latest round to £42m.
The investment comes from Taipei Fubon Bank, the second largest financial services firm in Taiwan.
In announcing the investment, Nutmeg also revealed it has reaching around £600m in assets under management from 25,000 customers.
The £12m investment follows £30m raised last month from Convoy, Hong Kong's largest listed independent financial advice firm.
Martin Stead, chief executive of Nutmeg, said: “There is a very significant market opportunity before us, in the UK and beyond, and we are going to capture it.
"With these new funds, we will continue to invest in product innovations which disrupt the industry and deliver a better deal – and a better experience - for customers.
"And, we are going to expand into new categories and new territories.
"It is for these reasons that I’m thrilled to welcome Fubon to join our family of investors, all sharing our vision and ambition for this business."
The investment means Nutmeg has attracted £71m in investment over the past five years.
Its existing backers include Schroders, Pentech, Balderton Capital and Armarda Investment Group.
Its most recent results showed that during 2015 Nutmeg made a loss of £9m, an increase on the previous year when it made a loss of £5m.
damian.fantato@ft.com
