Blanco, the startup that develops an all-in-one technology platform for asset managers has raised €2 million in a second financing round to roll out their Digital Asset Management Platform in general and to accelerate the roll-out of their Know Your Customer (KYC) Solution in Germany and France.
Other participants in this financing round are a number of strategic investors, plus Volta Ventures and KBC Start IT Fund, who has previously invested in Blanco. Notably, the Dutch Founders Fund has taken care of the largest part of this financing round. A representative of the Dutch Founders Fund will join the Blanco Supervisory Board.
Blanco’s Mission!
Founded by Bernadette Wijnings and Joost Walgemoed, Blanco’s mission is to facilitate wealth and asset managers in growing their business, by letting them focus on clients and investments.
Sold to 40 Dutch and Belgian asset managers!
Based out of Amsterdam, Blanco started at the end of 2016 with the development of an all-in-one technology solution for asset managers. The Blanco Digital Asset Management Platform has since been sold to around 40 Dutch and Belgian asset managers.
Know Your Customer (KYC) Solution
Blanco has succeeded in simplifying the often lengthy and annoying KYC Process – the legally required procedure to establish the identity of a customer and to create a customer profile.
Whereas the typical KYC process used to take several days, Blanco’s KYC Solution can complete the entire KYC process for simple accounts in a few minutes and for more complex accounts in 60 minutes.
Get to know customers better
Bernadette Wijnings, CFO of Blanco: “Instead of a legal obligation that leads to a complex process with a high chance of customers dropping out, we made the KYC process so simple that it actually becomes a chance for companies to really get to know their customers better.”
Real need!
Eric Veeneman, co-founder and managing partner of Dutch Founders Fund, says about the investment in Blanco: “The legal KYC obligation is a lot of hassle not only for financial organisations but also for regulated companies in general, such as law firms. We are impressed by the KYC Solution that Blanco has developed: there is a real need for this. This investment will enable an accelerated rollout of the KYC Solution in Germany and France, in addition to the Netherlands and Belgium”.
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