A company controlled by Pollen Street Capital is taking over the Finconomy portfolio company Fundsaccess. The Munich startup specializes in technologies for hybrid asset management. Fundsaccess offers white-label technology across the entire advisory process, serving insurance companies, asset managers, financial distributors, and broker pools.
In addition, Pollen intends to provide the necessary capital to merge Fundsaccess with Niiio Finance Group, Fundhero, and subsequent acquisitions to form a new group of companies. This group will be focused on offering innovative wealth tech solutions specifically developed for the DACH region and the European market. This will provide clients of banks, independent wealth managers, institutional asset managers, and insurance companies with a modern, digital financial services experience.
Reinhard Tahedl, CEO of Finconomy, comments:
"Given the fragmentation of the German wealth tech segment, private equity firms have significant opportunities to consolidate this sector and create added value for clients, employees, and investors. We are pleased to be bringing two profitable companies, MiFID-Recorder, which we acquired previously, and Fundsaccess, into the new group. With Pollen Street Capital, we have found an excellent investor who will further drive consolidation in the segment."
As a former majority shareholder of Fundsaccess, Finconomy will continue to play a role in the development of the new fintech group. The group's strategy is focused on enhancing its service offerings, achieving further growth through economies of scale, and improving margins. The transaction is subject to the fulfillment of certain closing conditions, including the necessary regulatory approvals.
