Fintech Solactive announces a €50M investment from Summit Partners
A technology-enabled provider of indices and index solutions Solactive announced a €50 million investment from the US-based global alternative investment firm Summit Partners.
Solactive, or Structured Solutions as it was then known, was founded in 2007 by CEO Steffen Scheuble. It has provided tailor-made index solutions for ETFs and other index-linked investments across equity, fixed income, and multi-asset class strategies worldwide since then.
Using the customer-centric and technology-first approach to the creation, development, calculation, and distribution of indices and related services, the startup has already acquired more than 400 international clients. They include investment banks, ETF providers, and hedge funds that have over $200 billion of global assets linked to more than 17,000 Solactive indices.
“We are excited to join forces with Summit Partners and work together to further accelerate our journey. Summit brings significant experience in the technology and financial services sectors, as well as deep resources in supporting the expansion of our businesses across products, regions, and client segments,” Scheuble commented.
With headquarter in Frankfurt am Main, the company has offices in Toronto, Hong Kong, Berlin, Dresden, and employs more than 250 employees. The fresh funding will support Solactive’s global and team growth.