Finance Breaking news Hybrid wealth platform Wealthpilot raises €8 million last financial news
Breaking-Finance.Com - Wealthpilot, a Munich-based provider of consumer financial data agregation software for the wealth management industry, has raised €8 million in fresh capital.
Breaking-Finance.Com - Wealthpilot, a Munich-based provider of consumer financial data agregation software for the wealth management industry, has raised €8 million in fresh capital. The total amount includes a contribution of €3.4 million from investor Seventure, with the remainder coming from previous backers Bayern Kapital, MIG Fonds and a consortium of business angels.The firm's software-as-a-service platform aggregates, analyses and plots out all financial information for an individual customer, regardless of asset class and financial institution, and displays it in a digital overview at the touch of a button.
.More than 8,500 banks, insurance companies, broker pools and wealth advisors and their customers now work with the firm, which has seen assets entered onto the platform increase tenfold since the middle of 2018 to a total of €42 billion. The company plans to use the new funding to expand the asset classes covered and grow its team with the aim of expanding internationally.Andreas Schenk, venture partner in the Digital Technologies team at Seventure Partners, comments: "Beyond meeting the needs of a growing part of the population to manage its financial assets, wealthpilot will be enabled with this new funding to deliver a more global wealth management solution including all types of assets. We have the strong conviction that wealthpilot will be one of the forefront pan-European fintechs."
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