The Munich-based startup WeAdvise has convinced leading asset managers and private bankers of its bank-independent solution for digital asset management, thus significantly expanding its investor base.
WeAdvise is a provider of robo-advisory technology focused exclusively on the B2B market. With its technology, the Munich-based company offers financial service providers such as banks, insurance companies, and asset managers, as well as non-banks, the opportunity to tap into new revenue streams and manage existing business.
The Munich-based startup can now bring additional investors on board: independent asset managers such as Consulting Team, Nowinta, and R&M, who want to use the startup's technology for their own digital businesses, participated in the investment round. In addition, ARTS Asset Management, a subsidiary of C-QUADRAT, Austria's largest bank-independent asset manager, will also invest in the Munich-based startup in the future.
With Andreas Brodtmann, former personally liable partner of Berenberg, and Otto Ernst, former personally liable partner and Chairman of the Management Board of Fürst Fugger Privatbank, WeAdvise was able to gain two additional private bankers as investors.
Combination of personal advice and innovative technology
With the expanded investor base, the startup gains access to in-depth industry knowledge and excellent network contacts. Together with company builder and anchor shareholder Finconomy, the founding team aims to further expand the company into the leading B2B robo-advisor in German-speaking countries. Current partners of the company, who use the robo-advisory technology, which can be fully customized to their look and feel, will benefit from the additional expertise gained from the further development of the platform.
"We are pleased to welcome independent asset managers and proven industry experts to our company. With WeAdvise, asset managers offer their clients a quickly deployable solution comparable to fintech offerings. With this solution, our partners combine personalized advice with innovative technology,"
so Christian Ropel, Co-Founder of WeAdvise AG.
Reinhard Tahedl, CEO of Finconomy, adds:
"With the help of our industry network, we have succeeded in convincing key market participants to invest in WeAdvise. WeAdvise helps asset managers and private banks digitize their processes and, in the future, also occupy the digital customer interface."
