Fintech wealthpilot closes new financing round

26. Septem­ber 2019

Capi­tal for further growth at Munich-based fintech: wealth­pi­lot closes finan­cing round

Munich — Munich fintech wealth­pi­lot recei­ves capi­tal for further growth The busi­ness model of the fast-growing Munich-based finan­cial tech­no­logy company wealth­pi­lot is aimed at hybrid wealth manage­ment. Seve­ral inves­tors contri­bu­ted a total of 2.6 million euros in a finan­cing round. Of this amount, EUR 1.1 million comes from a new inves­tor and EUR 1.5 million from exis­ting inves­tors such as Bayern Kapi­tal. With the funds from the new round, wealth­pi­lot intends to expand sales and marke­ting as well as drive inter­na­tio­na­liza­tion and product development.

wealthpilot’s digi­tal infra­struc­ture enables wealth advi­sors, asset mana­gers, family offices, banks or broker pools to conti­nue serving their clients perso­nally in the future. This hybrid approach combi­nes the advan­ta­ges of perso­nal consul­ting with wealthpilot’s effi­ci­ent soft­­ware-as-a-service (SaaS) plat­form. The model is incre­asingly in demand: advi­sors are now analy­zing more than EUR 12 billion in assets with the wealth­pi­lot soft­ware, up from around EUR 4 billion in August 2018.

The finan­cial tech­no­logy company wealth­pi­lot was foun­ded in 2017 and now has over 30 employees at its expan­ded Munich loca­tion and in the Graz office, which will open in July 2019. In total, more than 4,500 banks, insu­rance compa­nies, broker pools, asset advi­sors and mana­gers, tax consul­tants, family offices and their private clients curr­ently work with wealthpilot’s solu­tion, compared with around 1,500 twelve months ago. With wealthpilot’s SaaS plat­form, finan­cial services firms and advi­sors can service all assets and asset clas­ses of new and exis­ting custo­mers, deli­ver a world-class custo­mer expe­ri­ence, and achieve signi­fi­cant time savings through process auto­ma­tion. “Since the begin­ning of 2019 alone, we have acqui­red ten major banks and insu­rance compa­nies as custo­mers. Our market entry into the enter­prise segment has thus been very successful. There are now over twelve billion euros in assets that advi­sors and private custo­mers analyze with our soft­ware,” says Stephan Schug (photo), one of the foun­ders and mana­ging direc­tors of wealthpilot.

“wealth­pi­lot has deve­lo­ped very well since our invest­ment last year. The company’s growth rates are impres­sive,” says Bayern Kapi­tal Mana­ging Direc­tor Dr. Georg Ried. “High-quality custo­mer care based on a sophisti­ca­ted yet user-friendly SaaS plat­form is in demand among wealth advi­sors and mana­gers. Using wealth­pi­lot saves them time that can be spent on perso­nal consul­ting. We were happy to parti­ci­pate in the follow-up finan­cing round to lay the foun­da­tion for the company’s further growth,” conti­nues Dr. Ried.

Now, the addi­tio­nal capi­tal from the finan­cing round concluded in June is to be used prima­rily to further deve­lop auto­ma­ted data aggre­ga­tion and analy­sis of asset values as well as intel­li­gent scena­rio analy­ses for wealth advi­sors and private custo­mers. In addi­tion, the funds will be used to expand mobile iOS and Android appli­ca­ti­ons. “We have become a leading provi­der of cloud-based soft­ware for hybrid wealth manage­ment. The fact that we have been able to win a large number of new custo­mers in the enter­prise and SME sectors in recent months is proof of the strong demand for inno­va­tive finan­cial tech­no­logy that impro­ves and simpli­fies advi­sory services in wealth manage­ment. In addi­tion, the strong commit­ment of a new inves­tor and the rene­wed parti­ci­pa­tion of exis­ting inves­tors shows that we can both gain and retain trust over the long term. We are excel­lently posi­tio­ned for the next growth steps of our company,” explains Schug.

With its approach, wealth­pi­lot also wants to “demo­cra­tize” wealth manage­ment to a certain extent, as Schug explains: “Custo­mers should be able to use tools for wealth advice and finan­cial plan­ning regard­less of their asset situa­tion, which are other­wise only available to the very wealthy with assets in excess of milli­ons,” he says.

About wealth­pi­lot
wealth­pi­lot GmbH, based in Munich and Graz, is a fast-growing tech­no­logy company provi­ding a digi­tal infra­struc­ture for the perso­nal wealth manage­ment of the future. Soft­­ware-as-a-Service (SaaS) is one of the leading solu­ti­ons in wealth manage­ment and enables wealth mana­gers and advi­sors to achieve a symbio­sis of digi­tal and perso­nal wealth advice. wealth­pi­lot is alre­ady in use by over 4,500 users, who analyze and plan assets of over 12 billion euros with wealth­pi­lot every day.

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