Berlin-based Elinvar closes a €25M round to scale its multi-tenant platform
Wealthtech Elinvar has raised €25 million in a funding round led by a London-based multi-asset alternative investment management firm Toscafund Asset Management. Previous investors Ampega Asset Management, finleap and Goldman Sachs also participated in the round, the company said in its press release.
Founded in 2016, Elinvar develops a Platform as a Service, enabling asset and wealth managers to digitalize their business models. With a goal to connect the entire wealth management ecosystem, a multi-tenant platform offers service packages for core processes like client relationship management, online onboarding, onsite advisory support, portfolio management, reporting, invoicing among others, as well as third-party connections like banks of KYC providers.
The German startup is planning to invest the fresh funds into growing the team and expanding the offering with more self-customization options to connect the entire ecosystem on its platform.