Ride closes seed financing round

The investment start-up receives 1.5 million euros for its further expansion. Just one year after it was founded, it already manages 100 million euros in customer funds.

The Berlin-based fintech Ride has raised 1.5 million euros in a seed financing round. The company confirmed this to Payment & Banking. The money comes from entrepreneur Norbert Neef, the family office of investor Raoul Heraeus and US VC Social Starts. The start-up also announced that it already manages 100 million euros in assets less than a year after it was founded. "This shows how important trading and investing have become and how investors are becoming more and more professional," says the company.

Ride helps its customers to set up asset-managing GmbHs. As companies are in a better position than private individuals when it comes to share price gains and rental income, Ride investors can take advantage of tax benefits and reinvest them in their portfolio. Ride takes over the complete administration of these GmbHs. According to the company, the model is worthwhile from as little as 80,000 euros.

Ride intends to use the money raised to expand its own platform and hire new employees. Since its foundation, the fintech's team has already grown from five to around 40 people.