The new injection of cash means that YFM has invested £10.6m in Unbiased since 2019.

The latest £5m follow-on investment will help Unbiased expand its range of services, YFM said.

Unbiased’s directory helps consumers find financial advice professionals and provides introductory leads to advisers.

Since YFM began investing in Unbiased the firm has launched four new products: Enterprise, Simple, Essential and Growth.

In addition there have been improvements to new customer acquisition, conversion and ROI measurement tools.

YFM says the latest investment will be used to support the continued growth of Unbiased with investment in marketing, new products and services, enhanced functionality and international expansion.

Nick Holt, portfolio director at YFM, said: “Unbiased have a brilliantly unique business model, being able to provide consistent levels of quality tailored leads to financial advisers while at the same time granting customers access to the best and most appropriate advice. We are excited to be continuing to back a proven team as they expand their business to ever greater success.”

Karen Barrett, CEO and founder of Unbiased, said: ”Unbiased’s mission is to empower everyone to make confident financial decisions. Over the last few years, we've seen a significant increase in the number of people seeking financial advice from our professionals and last year helped financial advisers close more than £15 billion in new assets under management (AUM). With the continued support and recent investment from YFM we can further accelerate our growth, supporting even more people to make confident financial plans.”

More than 10 million people have so far used Unbiased, according to the firm. Consumers can use the service to find financial advisers, mortgage broker or accountants. Users can access over 27,000 professionals who are regulated, qualified and independent of product providers.

YFM typically invests £2m to £10m into businesses with strong growth potential across the UK through offices in London, Leeds, Manchester, Reading and Birmingham.