Billionaire joins Vantik

It has been two years since the fintech's last financing round. Vantik has now been able to convince investors again - but founder Til Klein had to sell many shares.

The Berlin-based fintech Vantik, which offers a product for private pension provision, did not seem to be doing so well recently. The advertising costs for new customers were too high, and the coronavirus crisis was also causing Vantik problems, announced founder Til Klein. Vantik recently launched a debit card to attract more customers who invest one percent of the value of every purchase in the fintech's savings plan. A few weeks ago, the Berlin-based start-up also closed a new financing round, as reported by start-up scene found out. Although the amount is unclear, the investors are known.

The Austrian family office Custos, which is backed by Wolfgang Leitner, is leading the Series A round. The billionaire is CEO and shareholder of the mechanical engineering company Andritz. Paypal manager Matthias Setzer has also joined as a new investor. The existing investors around Atlantic Labs, STS Ventures and N26 co-founder Max Tayenthal have also injected money.

Founder Til Klein initially did not want to comment on the amount of the financing round to Gründerszene . However, he had to give up a significant portion of his shares. According to Gründerszene, his company shares have now shrunk from 37.5 percent to 17.1 percent.