Ginmon, a Frankfurt-based robo-advisor, has raised a new round of funding led by London VC Passion Capital.
The size of the round is undisclosed, other than that it is in the seven-digit Euros range. The round was reportedly four-times oversubscribed.
Founded in 2014 Ginmon’s platform enables private consumers to invest in ETF-portfolios, which are then managed by its software.
The company says the capital will be used to hire more developers, as well as expand its marketing and product development teams.
For Passion Capital, one of London’s most-active early-stage VCs in the fintech space, the deal marks its first investment outside of the UK.
Copyright © 2016 FINTECH GLOBAL
