In recent years, financial institutions are driving towards the digital transformation of wealth management as a result of increased regulation, lower profitability, challenging macroeconomic climate, growing competition from new players, and more demanding digital-native customers.
In this regard, InvestSuite, a Belgium-based B2B wealth-tech startup, that helps financial institutions to accelerate their digital wealth transformation, has raised €3M in a fresh round of funding. With this round, the company has raised a total of €9M in funding since its inception in 2018.
The round saw participation from the existing, reference investor PMV, with an additional investment of €800K alongside AB Accelerator, 365.fintech, and other investors.
Speaking on the development, Bart Vanhaeren, CEO and co-founder of InvestSuite says, “The opportunity for us is right now; The pandemic has strongly accelerated the digital wealth transformation journeys in our key financial services verticals, and our rapidly expanding global pipeline. The funding allows us to hone in on these opportunities.”
Laurent Sorber, CTO and co-founder, adds, “COVID-19 has shown that we can remotely sell, build and deliver enterprise solutions to our global customer base”.
Launched in 2018 by banking veteran Bart Vanhaeren, and Laurent Sorber – a PhD in Mathematical Engineering, Investsuite helps financial institutions to accelerate their digital wealth transformation through its AI-based digital investment solutions.
The company offers cloud-native, modular wealth-tech, and invest-tech solutions to financial institutions. This is done by combining deep quant expertise and banking & investment knowledge with intuitive human-centric design and with an understanding of how the ‘backend’ of a financial institution works.
Headquartered in Leuven, Belgium, InvestSuite also has a presence in London, Sydney, Warsaw, Copenhagen, Madrid, and Amsterdam. With a 45 member team, the company has recently added multiple senior hires to further fuel its expansion plans, as well as its development and quantitative analyst teams.
What the company offers
Based on the iVaR-based portfolio construction framework, InvestSuite offers an end-to-end, customisable robo advisor, which provides an automated digital investment product that financial institutions can provide to their clients.
Bart Vanhaeren comments, “In our view, building InvestSuite with multiple innovative ‘invest-tech’ solutions is absolutely the right strategy. It enables us to talk to institutions of all sizes, all around the world, about a variety of challenges they may face and typically we are very well positioned to help them and, importantly, their end-customers, solve a particular challenge. Whether it is an accumulation, decumulation, lack of confidence in investing or an educational requirement, we deliver outstanding digital customer experiences that are win-win for both the financial institution and their end-customer”.
Some of its solutions include:
- Robo Advisor: It enables financial institutions to offer personal financial advice to mass affluent customers and HNWI, with a human-centric design to give their customers the confidence to invest.
- Self Investor: It is an “execution-only” investment platform designed with retail investors in mind, with the help of the company’s knowledge and expertise team
- StoryTeller: It’s a new way to tell the performance “story” of an end customer’s portfolio – from retail clients all the way through to ultra-high net worth individuals. It is done via using machine learning combined with storytelling techniques.
The company claims that StoryTeller brings portfolios to “life” and increases engagement – whether it is an advisor-led journey or otherwise.
Earlier in April this year, the Leuven-based company had raised €2M in its Seed round of funding led by PMV with participation from existing and new business angels, management, and employees. The funds were raised to expand the digital investment services of the company outside Europe.
Prior to that, in 2018, the fintech had raised €2M in funding led by PMV – which has over €1B in assets under management, to fuel its R&D investments.