The fintech Wealthpilot is increasing its financing. In December 2019, Munich-based investor MIG invested €1.9 million in an expanded Series A financing round, as announced recently.
The Munich startup combines personal financial advice with a software-as-a-service platform (SaaS). Bayern Kapital, among others, is another investor in the company, founded in 2017. To establish its business model, the startup has so far raised €6.9 million from investors. 2.6 million euros in the last Series A round in October 2019.
Wealthpilot continues to expand
The rapidly growing company's offerings are proving popular. A good 5,000 advisors are now analyzing over €17 billion in assets using the Wealthpilot software. By comparison, in August 2018, the total was just €4 billion.
The startup also plans to invest the newly raised funds in sales, marketing, internationalization, and product development. A second location opened in Graz in July 2019. Wealthpilot employs a total of around 50 people.
