German WelathTech startup Ride Capital scores €3m funding round

Germany-based Ride Capital, which aims to democratise wealth structuring, has reportedly raised €3m in funding.

The capital was supplied by a group of investors, including professional football player Mario Götze.

With the capital, the company plans to bolster its offering with new features, according to a report from Ride Capital’s goal is to become a fully licensed private bank.

The company enables tax-optimised investments for assets from €80,000. Users can invest into shares, futures, property and investment funds.

RIDE Capital co-founder Christine Kiefer said, “We have noticed that, especially in Germany, there is a service gap for people whose needs are no longer met by retail banks, but whose investment volume is still below that of classic private banking.

“We would like to offer our existing services and new investment opportunities to this target group. Thanks to consistent digitalisation, we are well on the way to developing new products and further expanding our portfolio.”

With the close of the round, the company has raised a total of €8m.

Another Germany-based WealthTech company to recently close a funding round is Upvest. The company secured $42m for its Series B round in June, with commitments coming from Bessemer Venture Partners, Earlybird, ABN AMRO Ventures, Notion Capital and more.

Upvest offers investment APIs that enable businesses to create innovative investment experiences for all users.

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