Elinvar receives 25 million euros
Tom Schmidtgen
| 21.01.2021
The platform-as-a-service startup plans to put the money it raises into its expansion.
Elinvar wants to connect the entire value investment ecosystem. For this, the start-up from Berlin received 25 million euros in a financing round. The main investor is the London-based investment company Toscafund Asset Management. Previous shareholders Ampega Asset Management, Finleap and Goldman Sachs also participated.
Elinvar offers a WealthTech Platform as a Service (PaaS) that enables banks and asset managers to digitize their business models. "Wealth investing is undergoing a massive transformation," says CEO Chris Bartz. "In order to provide the best solutions to their clients*, banks and asset managers need to focus on their core competencies and work with other partners that complement their expertise."
The money raised will be put towards expansion. Elinvar was founded in 2016, and today more than 100 employees work for the start-up. A second location will be opened in Magdeburg.
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