Ride closes seed funding round

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

Berlin-based fintech Ride has raised €1.5 million in a seed funding 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 startup also announced that less than a year after its founding, it already manages 100 million euros in assets. "This shows the importance of trading and investing and how investors are becoming more and more professional," the company said.

Ride helps its customers set up asset-managing limited liability companies. Since 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 portfolios. Ride takes over the complete administration of these GmbHs. According to company information, the model is already worthwhile from 80,000 euros.

With the money raised, Ride wants to expand its own platform as well as hire new employees. Since its founding, the fintech's team has already grown from five to about 40 heads.