wealthpilot, a software-as-a-service platform for wealth management, has bagged ?8m in a funding round to improve data aggregation capabilities.
Of the capital, ?3.4m was supplied by Seventure and the remaining funds were supplied by Bayern Kapital, MIG Fonds and a consortium of business angels.
With the funds, the company plans to further the development of its data aggregation depth and breadth. This will enable it to expand its data interfaces for investments in liquid assets and additional assets, such as real estate.
wealthpilot co-CEO Stephan Schug explained, ?In this way, wealthpilot creates a basis for everyone to have a clear picture of what their financial situation looks like and how, based on this, they can achieve all of their financial goals.
?We want to give the customer a financial home for his or her assets. Today and in the future, this new home is on a digital platform that aggregates and analyses all assets at a high level of data quality, and which allows for the planning and realization of a personal financial strategy along with a wealth advisor.p>
Germany-based wealthpilot has built a digital platform that enables hybrid wealth management. Based on a digital aggregation of customers financial information, a wealth manager can offer individualised advice.
Alongside improving its data aggregation, the WealthTech will increase the size of its team and expand sales efforts.
Bayern Kapital managing director Dr. Georg Ried said, ?wealthpilot’s growth rates continue to be impressive. The coronavirus crisis has further accelerated digitalization in the financial sector enormously. In recent years, the company has achieved an impressive development and we still see considerable potential for growth and expansion, which is why we are looking forward to support wealthpilot throughout its further growth steps.p>
Fellow German WealthTech platform Elinvar closed a funding round on ?25m earlier in the week. The company focuses on B2B2C and enables its partners to digitise their business models.
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