BMH invests in Reach Finance

BMH Beteiligungs-Managementgesellschaft Hessen mbH is a subsidiary of Landesbank Hessen-Thüringen. Reach's finance app is aimed at a young target group.

BMH Beteiligungs-Managementgesellschaft Hessen mbH invests in Reach Finance in a seed financing round. The finance start-up has selected so-called young professionals between 25 and 35 as its target group and plans to launch its app this year. According to the startup, the market launch is planned for November 2022. The new capital from the seed round will be used for new product development staff and marketing and working capital.

Reach Finance has developed an annual subscription service that users can book in exchange for help with financial issues. Users will also be able to create an initial financial strategy. The idea is to bring together all the options of non-bank financial products and link them to the user's own financial plan. "The product idea and the business model have convinced us. We believe that Reach's financial navigator will provide young people with valuable and lasting support in building up their assets," says investment manager Jürgen ten Elsen of BMH.

Daniel Hecker, co-founder and COO can already point to successes: "To date, more than 500 financial plans have already been created in a proof of concept and over 1,500 interested people have signed up for our waiting list."