FinTech LIQID closes €33 million financing with Tosca Private Investments Fund
Berlin — Berlin-based digital asset manager LIQID has closed a financing round and received 33 million euros for its further growth. This is one of the largest sums invested in a German FinTech company to date. The main investor is Toscafund Asset Management LLP, a London-based multi-asset alternative investment company that manages more than $4 billion. Existing investors, including Project A, HQ Trust and Dieter von Holtzbrinck Ventures, also participated in the financing round.
With its investment through Tosca Private Investments Fund (“TPIF”), Toscafund becomes a significant shareholder in the fast growing FinTech. TPIF sees itself as a private equity investor with a focus on small and medium-sized companies in the European financial services sector. The transaction is subject to approval by BaFin.
LIQID was founded in 2016 and positions itself as a digital alternative to the traditional private bank. In close partnership with HQ Trust, the multi-family office of the Harald Quandt family, the company offers clients access to alternative asset classes such as private equity in addition to asset management, starting with a minimum investment of EUR 100,000. Just under two years after its launch, LIQID manages almost 300 million euros for its customers.
Christian Schneider-Sickert, CEO and co-founder of LIQID, sees the reason for the rapid growth in a clear customer focus and the active support of his investors: “Our investors have been decisive in supporting the development of LIQID and helping us to gain the trust of investors. We are pleased to have found such a strong and internationally experienced partner in TPIF, with whose help this development can continue.” With TPIF’s active support, he said, it will be possible to expand LIQID’s technology platform as well as its range of services in Germany and beyond.
Fabrizio Cesario, Partner of Toscafund, is looking forward to the engagement: “We are very happy to support the existing shareholders and the team of LIQID with our capital and our expertise in the European financial services industry. This investment fits perfectly with our long and successful history of financing the growth of exceptionally innovative companies. Technological change will fundamentally transform the financial industry and LIQID is leading the way.”
George Koulouris, Partner at Toscafund, adds: “We see strong growth prospects in serving high net worth individuals across Europe. LIQID’s award-winning platform clearly stands out from the competition thanks to its unique combination of technology, professional investment strategies and human expertise. In our view, LIQID is ideally tailored to the needs of wealthy customers. The business model is highly scalable and has great potential for the entire European market.”
LIQID was advised by Rothschild & Co. and TPIF by Herax Partners.
LIQID is an independent digital asset manager that offers its clients access to investment strategies, asset classes and conditions previously reserved exclusively for high-net-worth individuals. The Berlin-based company works closely with the investment team of HQ Trust, the multi-family office of the Harald Quandt family. On an intuitive digital platform, LIQID has digitalized asset management in a consistent and user-friendly way.
LIQID offers three different investment styles tailored to individual client needs and based on a long-term investment philosophy proven over several market cycles. In addition, LIQID clients gain low-cost access to leading private equity funds.
Since its launch in 2016, LIQID has received numerous industry awards. In 2017, the company was named Best German Late-Stage FinTech at the FinTech Germany Awards. The independent ranking institute firstfive awarded LIQID in 2016, 2017 and 2018 for outstanding performance in the management of its client portfolios. In 2018, the business magazine brandeins awarded LIQID the title of “Innovator of the Year” while Capital put LIQID in first place in a comparison of robo-advisors. LIQID was also awarded the German Brand Award for outstanding brand management in the banking and financial services sector.
About Toscafund Asset Management
Toscafund Asset Management LLP is a London-based investment company specializing in alternative multi-asset investments and currently manages over four billion US dollars. The company was founded in 2000 by Martin Hughes and has established itself as one of the leading European investors in the financial services sector.
In addition to its main fund, Toscafund’s activities include equity financing for small and medium-sized enterprises, private loan financing and investments in commercial real estate. Toscafund has many years of experience in growth financing of fast growing companies. Investments in the financial services sector include Aldermore Bank, Hoist, Atom Bank, OakNorth and Esure.
TPIF, Toscafund’s latest initiative, targets investments in European unlisted financial and service companies. TPIF is led by Fabrizio Cesario and George Koulouris, who joined Toscafund as partners in 2017. After Plurimi Wealth, the investment in LIQID is the second investment of TPI