Goldman Sachs, the Wall Street banking giant, is to extend its push into Britain's retail financial services sector by taking a stake in Nutmeg, the digital wealth manager.

Sky News has learnt that Goldman's Principal Strategic Investments (PSI) arm is among the largest investors in a £45m fundraising to be announced by Nutmeg in the coming days.

Sources said on Tuesday that Convoy, Hong Kong's largest listed firm of independent financial advisers, was also investing a substantial further sum in Nutmeg as part of the funding round, following its initial backing of the tech start-up just over two years ago.

The fundraising, which is being jointly led by Goldman and Convoy, will value Nutmeg at £245m, according to a person close to the company.

It is understood to be subject to approval by the Financial Conduct Authority.

<img src="https://e3.365dm.com/17/10/768x432/skynews-goldman-sachs-bank_4127261.jpg?bypass-service-worker&20171013150535" srcset="https://e3.365dm.com/17/10/384x216/skynews-goldman-sachs-bank_4127261.jpg?bypass-service-worker&20171013150535 380w, https://e3.365dm.com/17/10/768x432/skynews-goldman-sachs-bank_4127261.jpg?bypass-service-worker&20171013150535 760w, https://e3.365dm.com/17/10/1600x900/skynews-goldman-sachs-bank_4127261.jpg?bypass-service-worker&20171013150535 1024w, https://e3.365dm.com/17/10/2048x1152/skynews-goldman-sachs-bank_4127261.jpg?bypass-service-worker&20171013150535 2048w" sizes="(min-width: 1024px) 1024px, 100vw" alt="Goldman Sachs has a small stake in the Weinstein Company" data-lazy-loaded="true">

Image:Goldman Sachs has supported several UK start-ups in recent years

Goldman's involvement will be the most eye-catching element of Nutmeg's announcement, deepening a relationship between the world's best-known investment bank and the UK fintech sector.

Nutmeg's founder and former chief executive, Nick Hungerford, had previously said that the company wanted its customers "to feel like you're walking into Goldman Sachs with £10m, even if you're logging on to Nutmeg with £1,000 to invest".