Kore Labs EIS

Financial organisations manage large and diverse portfolios of products (investments, savings, loans, insurance, etc.) – typically using fragmented systems, manual processes and siloed data.

This complexity and lack of consistent oversight can create regulatory risk, inefficiency and poor customer outcomes. Meanwhile, mounting regulation – particularly, Consumer Duty legislation introduced by the FCA in 2023 – requires UK financial institutions to maintain a full audit trail for the lifecycle of every product and service they offer. It is part of a broader global trend towards increasing regulatory oversight.

This can put financial product providers in a bind. Legacy software is often inadequate to the task – however, non-compliance could lead to significant reputational damage and fines.

Launched in 2020, Kore Labs Ltd (“Kore” or “the Company”) is an award-winning, cloud-based Software-as-a-Service platform designed to tackle this.

Developed specifically for the finance industry, it is used by 14 Tier-1 financial institutions, including NatWest, Lloyds Bank, Italy’s largest bank Intesa Sanpaolo, and two of the top three banks in the Netherlands: Rabobank and ING. Its long-term pipeline includes Barclays, Deutsche Bank, BNY Mellon, Close Brothers, HSBC, Santander, Mastercard and Standard Chartered.

Kore’s platform brings together product-lifecycle data and workflows in one place – from idea generation through launch, monitoring and retirement – providing consistent taxonomies, an audit trail of decisions, better visibility, governance and control. This can help clients reduce risk, accelerate time-to-market, improve product governance and deliver better customer outcomes.

In the past two years, Kore more than trebled contracted ARR: from £800k in 2023 to £1.7 million in 2024 and now management reports it is on track to reach £2.8 million by the end of 2025. The Company forecasts to sustainably grow to c.£69.1 million ARR and £37.6 million EBITDA by 2030 – not guaranteed.

Wealth Club members first invested in Kore in 2023, with a follow on round in 2024. Over the past few years, Kore has received several offers of funding from Institutional VCs– but chose to continue to partner with minority investors, including Wealth Club, to retain control as the Company grew. A Series A round is now being planned for 2026 to help the Company pursue the growth opportunities it believes are becoming available.

In advance of this, Advanced Subscription Agreements (ASAs) have been offered this year to existing investors and a single ultra-high-net-worth strategic investor. The Company now wishes to extend this offer to new Wealth Club investors, under the same terms, seeking to raise up to £650k.

Based on the Company’s forecasts, target return for this round is approximately 8x before tax relief and net of fees – high risk and not guaranteed. The minimum investment is £20,220 and you can apply online.

Please carefully read all investment documents prepared by the Company, to form your own view.

During 2025, Kore offered its existing investors and one specific UHNW strategic investor the opportunity to invest under an ASA. Existing investors have responded well, and the Company reports it is now sufficiently funded until its planned Series A in 2026.

However, a new opportunity has emerged that has led the Company to reconsider its funding plans. Five senior executives from successfully grown and exited B2B SaaS / RegTech companies have become available. As these high-calibre candidates are available now, Kore has decided to make these appointments sooner to accelerate its growth plan.

The current fundraise – an expansion of the previous ASA to new investors – is intended to raise the capital (£650k) to support these appointments. All capital secured under ASA this year will reduce the target of the Series A next year.

ASA overview

The terms of the ASA are as follows:

• Longstop date: 12 months from the date of the ASA
• Conversion conditions
  • If a Series A round (Qualifying Investment Round) launches before the Longstop Date, the ASA will convert at the higher of a 15% discount to the Series A round price or the most recent share price of £3.37.
  • If a Series A round does not launch before the Longstop Date, at the Longstop Date the ASA will convert at the higher of a 15% discount to the price per share based on the company’s pre-money valuation (valuation will be calculated on the same basis and multiple as the last funding round) or the most recent share price of £3.37

The ASA will convert into Ordinary Shares expected to be EIS qualifying – not guaranteed. Kore last issued EIS certificates in February 2025 and there have been no material changes to the nature or structure of the business since. The Company’s planned Series A launch would trigger the conversion of the ASAs. For the full capital table please see Kore’s Investor Presentation.

The new investment will be made under the same structure and fees as the previous investment.

Investors will pay no direct initial or ongoing charges to invest. Fundraising costs are being met by the Company. Wealth Club will be entitled to a performance fee on exit.

Wealth Club investors will invest using a nominee structure. This service is provided by Wealth Club’s subsidiary companies Wealth Club Asset Management Limited (authorised and regulated by the FCA) and Wealth Club Nominees Limited. Wealth Club Nominees Ltd will be completing the share subscription documentation on investors’ behalf.

All the services Wealth Club and, where applicable, its subsidiaries provide are governed by the Terms and Conditions of the Wealth Club Services.

This, like all investments available through Wealth Club, is only for experienced investors happy to make their own investment decisions without advice.

This is a single company offer with no diversification. It involves investing in an early-stage, loss-making business, which is by nature high risk and prone to failure. There is a risk that the capital raised may not be sufficient to achieve the Company’s objectives. You could lose all the amount you invest.

There is no ready market for unlisted EIS shares: they are illiquid and hard to sell and value. There will need to be an exit for you to receive a realised return on your investment. Exits are likely to take considerably longer than the three-year minimum EIS holding period; equally, an exit within three years could impact tax relief.

To claim tax relief, you will need an EIS3 certificate, normally issued once shares have been issued. Tax reliefs depend on the company maintaining its EIS-qualifying status. Remember, tax rules can change and benefits depend on circumstances.

Before you invest, please carefully read the Investor Presentation, which contains further details on the considerable risks – alongside the Wealth Club Risks and Commitments.

This financial promotion has been communicated and approved by Wealth Club Ltd on 18 November 2025

Wealth Club aims to make it easier for experienced investors to find information on – and apply for – investments. You should base your investment decision on the offer documents and ensure you have read and fully understand them before investing. The information on this webpage is a marketing communication. It is not advice or a personal or research recommendation to buy any of the investments mentioned, nor does it include any opinion as to the present or future value or price of these investments. It does not satisfy legal requirements promoting investment research independence and is thus not subject to prohibitions on dealing ahead of its dissemination.