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Nick Hungerford was an English entrepreneur who specialized in developing financial technology (FinTech) solutions. He was best known for being rejected by forty-five investors before receiving funding for his start-up company, which was eventually sold for an estimated $1 billion.
Hungerford was born and raised in the United Kingdom. He earned a degree in economics from Exeter University, where he earned a degree in economics. He then worked in investment banking in London for companies such as Barclays.
After seven years of working in London, Hungerford moved to the United States to attend Stanford University, where came up with the idea for a decentralized way to make and manage investments so the opportunity to invest would be available to the general public and not people who can typically afford wealth management.
Hungerford earned his Master of Business Administration from Stanford and started to develop a plan for a FinTech company with a focus on investing. His idea was rejected by the first forty-five investors he pitched for funding, but he eventually secured funding for his idea. In 2011, he cofounded Nutmeg, a FinTech company that develops decentralized investing products and solutions. The company was sold to JP Morgan for an estimated $1 billion in 2021.
Hungerford also held leadership positions in other FinTech and entrepreneur-related organizations, such as the UK Global Entrepreneur Program, Hulgrave, multiply.ai, and Neat. In 2016, he became a partner at venture capital firm Portage, which focuses on investing in start-ups and helping other entrepreneurs.
In 2022, Hungerford and his wife, Nancy, cofounded a charity called Elizabeth's Smile. The charity is dedicated to providing resources to children who lose a parent to terminal illness. It is named after the couple's daughter because Nick Hungerford was diagnosed with Ewing sarcoma, a rare form of bone cancer, in 2019. He received treatments for the cancer but eventually passed away from it in July 2023 at the age of forty-three.
