Wealth technology company InvestSuite intends to build on the digital transformation momentum brought about by the pandemic with €3 million in new funding.
InvestSuite, a provider of cloud-based modular wealth and investment technology solutions to financial institutions, has raised €9 million since inception in 2018.
Existing investor PMV invested an additional €800.000 in the latest funding round, alongside AB Accelerator, 365.fintech and other investors.
Headquartered in Leuven, Belgium, with presences in London, Sydney, Warsaw, Copenhagen, Madrid and Amsterdam, InvestSuite has enjoyed significant growth since March.
The company has increased from 25 people to 45, added multiple senior hires, and expanded its development and quant teams.
Bart Vanhaeren, chief executive officer and co-founder of InvestSuite, believes the pandemic “has strongly accelerated the digital wealth transformation journeys in our key financial services verticals, and our rapidly expanding global pipeline. The funding allows us to hone in on these opportunities.”
Laurent Sorber, chief technology officer and co-founder, adds: “Covid-19 has shown that we can remotely sell, build and deliver enterprise solutions to our global customer base.”
Kris Vandenberk, senior investment manager at investor PMV, agrees: “The pandemic has forced wealth managers to step up its digital efforts. InvestSuite provides a suite of differentiating solutions to expedite this digital transformation journey.”
“We’re excited to continue supporting InvestSuite on that mission and their global expansion ambitions.”
InvestSuite offers three white-labelled solutions in the wealth and investment spaces.
Robo Advisor enables financial institutions to offer personal financial advice to mass affluent customers and high-net-worth individuals, while Self Investor is an execution-only investment platform for retail investors.
StoryTeller, meanwhile, uses machine learning and storytelling techniques to outline the performance of an end customer’s portfolio.
In addition to these solutions, InvestSuite has also defined its own measure of risk, iVaR, which is at the heart of its portfolio construction framework and enables financial institutions to deliver personalised portfolios at-scale to their clients.