Marcel Ospel and Others will Invest CHF 10m into Swiss Wealthtech Evolute
by Fintechnews Switzerland March 11, 2019At an extraordinary general meeting last week, a new financing round was announced. A consortium of renowned investors will invest over the next three years a total of up to CHF 10 million in the further development of the digital Swiss wealth management platform Evolute.
Finews reports that Marcel Ospel (former UBS CEO) and Urs Wietlisbach (Founder Partners Group) are among the investors.
The new investments will provide certainty about Evolute’s long-term development and allow Evolute to implement its successful strategy step by step and expand its range of services and attractive business model.
For 2018, Evolute claims to have reached a revenue grew by over 600%, reaching a CHF 1.5 million run-rate revenue. This growth is driven by its existing and new clients, among them Finaport, VT Wealth Management and LimmatWealth. Evolute currently runs a total of CHF 9 billion in assets on its platform for its 17 clients.
The Evolute team plans major platform updates in 2019 with innovations such as a mobile advisory solution, managing and reporting non-bankable and crypto assets in one single portfolio view and integration of the product marketplace.
The Board of Directors remains unchanged with Michael Hartweg (Chairman and CEO ad interim), Patrick Barnert and Kathleen DeRose.
