Belgium-based GuiSquare, the startup behind the wealth planning platform PaxFamilia, has raised €1.4M in a fresh round of funding. The round was led by the family of Arnoud de Pret Roose de Calesberg and BNP Paribas Fortis.
The company’s goal?
PaxFamilia aims to accelerate its growth and expand the base of wealth advisors in order to offer digital support to their clients in Europe.
Guillaume Desclée, CEO & co-founder of GuiSquare, says, “This new fundraising will allow us to continue to invest in the development of our platform and to accelerate our growth by offering our functionalities to a wider spectrum of advisors in order to increase the convenience for our user families.”
Launched in 2018 by Guillaume Desclée, PaxFamilia is a digital wealth management platform that provides advanced solutions and advising tools to advisors who serve clients with substantial wealth.
With a team of 21 people, including the founder, the company offers a secure and easy-to-use platform that aggregates and contextualises all kinds of wealth data, provides advising tools, and offers the possibility to store documents and produce reports.
Since its inception, more than 17,000 families in Europe are using PaxFamilia’s solution through their advisors. The company’s founder says they have managed to break even in 2020.
The founders of GuiSquare remain the main shareholders of the company. “Wealth governance and transmission have always been of great interest to us, so we are delighted to join the three company founders and BNP Paribas Fortis in this project that revolutionises the way families access their wealth data and interact with their advisors. We are convinced that PaxFamilia meets a real need for the digitalisation of people’s wealth passports, which should become the norm in the future,” explains Valentine de Pret, new President of the Board ofGuiSquare.
The next step for PaxFamilia is to be deployed more extensively as a reference wealth planning interface for all financial advisors, such as banks, big four, family offices, asset managers, fiduciaries and other asset managers in Benelux and France.
These prospects will be supported by new developments in the three service levels offered on the platform:
- An integrated and secure client data management;
- Provision of a turnkey client interface;
- A set of tools enabling advisors to offer personalised support to their clients
A brief about BNP Paribas Fortis
Founded in 2008, BNP Paribas Fortis is a bank that provides personal and business banking services. Its share capital is €9375B, of which 99.93 per cent is held by BNP Paribas – a credit institution with headquarters in Paris.
Stéphane Vermeire, MG Private Banking & Wealth Management at BNPParibas Fortis, explains, “BNP Paribas Fortis has been an investor of GuiSquare since 2018. We thus want to assist the management of GuiSquare to meet the highly regulated requirements of the banking sector. On the other hand, this partnership allows us to enrich the way of our clients towards digital wealth management.”