InvestSuite announces that it has raised a seed extension round led by PMV with participation from existing and new business angels, management and employees. This €2 million is bringing its total funding since its start in June 2018 to €6 million.
Bart Vanhaeren, CEO and co-founder of InvestSuite states that, “This funding enables InvestSuite to expand its market reach and products, grow the team and bring unparalleled innovations to customers around the globe”.
InvestSuite, a Belgium-based B2B WealthTech startup, helps financial institutions to accelerate their digital wealth transformation via its AI-based digital investment solutions. The company was founded in 2018 by an experienced team of bankers, computer scientists and product designers. In its first 18 months, the company has grown to 25 employees across Europe with a sales presence in Europe, Latin America, and the Middle East.
Historically, the wealth management industry was relatively resistant to technology, but times are changing. Financial institutions are accelerating their digital transformation of wealth management as a result of increased regulation, lower profitability and a challenging macro-economic climate, growing competition from new players and more demanding digital-native customers.
“The ball is definitely rolling,”
said Bart Vanhaeren.
“Wealth management is undergoing a large-scale digitalization, and we are seeing great demand. We noticed that the pace of change has significantly increased during the last six to twelve months and are talking with financial institutions all over Europe, in the Middle East, Australia and even Brazil.
Based on the iVaR-based portfolio construction framework, InvestSuite offers an end-to-end, customizable robo advisor, which provides an automated digital investment product that financial institutions can offer to their clients. With these new offerings they can serve a huge audience who could not access personal financial advice before.
In addition, InvestSuite provides solutions for multi-asset trading (SelfInvestor), quantitative portfolio construction (Optimizer) and a world-first for portfolio reporting (StoryTeller).
Featured image credit: InvestSuite Linkedin
