Case Study: Nutmeg, the online wealth manager, gains 1,000+ customers and boosts referral share 240% with Mention Me

How the platform converts 26% of referrals into new customers

Nutmeg, a UK digital wealth manager founded in 2012 and now one of Europe’s largest online investment platforms, needed to scale customer acquisition after rapid growth. Although an in‑house refer‑a‑friend programme existed, Nutmeg wanted to accelerate referrals and boost new client sign‑ups as part of ambitious expansion plans.

Partnering with Mention Me, Nutmeg tested a higher‑value referral offer (£100 for referrers and six months’ fee waiver for referees) which lifted share rates by 240% and doubled sign‑up rates versus the previous offer. The enhanced programme drove over 1,000 new customers in the first six months, achieved an average 26% conversion of referred friends, and is being extended with planned mobile app integration.

Nutmeg

Lauren O'Connor

Digital Engagement Manager