After raising €4.8 million by fundraising and receiving almost a million euros in a grant from the Ministry of Economy, Investify, a German fintech-regtech, now expects to expand its activities and client base in Luxembourg.
Investify, a fintech-regtech specialized in digital solutions and expertise aimed at financial institutions “is intending to accelerate its growth and further expand its scope of services” in 2021, read its recent press release.
The German-Luxembourgish company operates a SaaS-based platform that provides solutions to asset and fund management firms, such as strategy, product, fees,customer management, and support, in addition to portfolio and sales analysis.
In order to meet its targets, the Cologne and Wasserbillig-based startup raised €4.8 million in December 2020, half of the funding being from existing shareholders and the rest from new investors.
“At the same time, an existing shareholder converted a nominal €800,000 from a bond into shares in the company. This means that Investify is now fully financed by equity,” said Christian Kratz, founder and managing director of the company.
With this new financing, Investify aims to gain footing in Luxembourg, in addition to the German market. Last November, in order to increase its presence in the Grand Duchy region, the company took on Georges Bock, former CEO of KPMG and current CSO of Governance.com, as a board member.
The company secured an additional € 800,000 in funding in 2020, which was granted by Luxembourg’s Ministry of Economy, as part of the Young Innovative Enterprise innovation advancement program.
The Fintech added that it increased the number of its B2B customers last year, with a client portfolio including financial institutions, a technology provider, and a finance and consumer portal, all based in Germany.
“When it comes to implementing pioneering end-to-end investment solutions which also directly minimize regulatory requirements, we are now the only game in town,” claimed Harald Brock, one of the managing directors of the company.
Launched in 2015, Investify TECH positions itself as an innovative financial technology and regulatory provider that helps digitize the investment business of its B2B partners.
Initially based in the Technoport, the company recently moved its Luxembourg office closer to the German border.