Deloitte's “Driving innovation in investment management” report has found that funding for invest-tech platforms dipped sharply in 2019.

For the 12 months to 30 September 2019, funding totalled just under $1.4 billion.

This is a sharp fall from the same period in 2018, when funding for the industry exploded to $2.8 billion.

The report estimates that invest-tech platforms' customer bases are heavily weighed to chasing younger clients, which demands high acquisition costs but low revenue.

Such customers carrying $20,000 in their account would offer $50 in revenue per year if a management fee of 0.2...