Fintech entrepreneur Nick Hungerford, the co-founder of robo-adviser Nutmeg, has died at the age of 43 after suffering from a terminal cancer.

Mr Hungerford was one of the UK’s best known financial technology entrepreneurs, founding Nutmeg in 2011 with business partner William Todd.

Nutmeg was one of the first direct to consumer robo-advice firms, allowing investors to set up and manage their investments online.

Despite suffering from terminal cancer, Mr Hungerford and his wife set up a charity - Elizabeth’s Smile - to help children who have lost or will lose a parent, working initially in the UK but also now the US.

A spokesman for JP Morgan-owned Nutmeg said today: “It is with great sadness that we confirm today that Nick Hungerford, Nutmeg co-founder and one of Britain’s most successful fintech entrepreneurs, has passed away at the age of 43.

“Nick was passionate about helping to empower people to achieve their full potential – through Nutmeg, he hoped to democratise wealth management and start a journey that would change the retail investment sector in the UK. It is a mission we all aim to deliver every day.”

The spokesperson added: “On behalf of all Nutmeg colleagues, past and present, we are incredibly proud of the journey Nick started, everything achieved so far and the opportunity we have to continue to help people manage their money in the future.”  

Mr Hungerford’s charity, Elizabeth’s Smile, provides resources for children who lose a parent, initially in the UK and US. Further details of how to support the charity and find out more about its work are here: www.elizabeth.org    

Mr Hungerford died of bone cancer 6 July in Washington, DC. He was born in Bristol and received a degree from the University of Exeter and an MBA from Stanford University in the US.

He began his career as a wealth manager at Barclays and Brewin Dolphin. He co-founded Nutmeg which was sold in 2021 to JP Morgan, having amassed 140,000 clients and £3.5bn in assets under management.

After Nutmeg, he joined Portage as a venture partner. He was a prolific contributor across the fintech industry and was the digital ambassador for the UK Department for International Trade, a member of the European Power 50, a founding non-executive Director of Innovate Finance - the association representing the UK's global fintech community - and a recipient of the Spear's Entrepreneur of the Year award.

His family said his personal experience navigating terminal cancer revealed a dearth of resources available to support children who lose a parent. Inspired to ensure his daughter was not condemned to a lifetime of grief or disadvantage, he created ‘Elizabeth's Smile’, a non-profit named after his daughter.

He leaves a wife Nancy; his daughter Elizabeth; his parents Robin and Judi Hungerford; sister Katie Hungerford Dang; brother-in-law Andy Dang; Bert and Marjorie Hulgrave, parents of Nancy; and sister-in-law Kathryn Hulgrave McNaughton. Private services will be held in Washington, DC, and England.

• The family have asked that in lieu of flowers, contributions can be made to Elizabeth's Smile at Elizabeth.org.