In the current digital era, wealth management is witnessing a massive change as it undergoes a technology-led disruption. One company that is working towards enabling asset and wealth managers to digitalise their business models is Elinvar. The Berlin-based PaaS (Platform-as-a-Service) company has bagged fresh funding to scale its business.
€25M funding from Toscafund Asset Management
Elinvar has hit the headlines as it bagged €25M funding led by Toscafund Asset Management, which is subject to the approval of the BaFin, the federal office for financial supervision. Others that participated in the funding round are existing shareholders Ampega Asset Management, Goldman Sachs and finleap. The company will use the investment to scale its multi-tenant platform and connect the wealth management ecosystem.