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 is investing in Reach Finance in a seed financing round. The finance start-up has chosen young professionals between the ages of 25 and 35 as its target group and plans to launch its app this year. According to the start-up, the market launch is planned for November 2022. The new capital from the seed round will be used for new staff in product development and for marketing and operating resources.

Reach Finance has developed an annual subscription that users can book and receive help with financial issues in return. Users will also be able to create an initial financial strategy. The aim is to combine all the options of bank-independent financial products and link them to their own financial plan. "We were impressed by the product idea and the business model. 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 from 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."