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German wealthtech Elinvar receives investment from Goldman Sachs

Elinvar, a Germany-based wealth technology startup, has raised an undisclosed sum of money in its latest funding round that was led by Goldman Sachs.

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2022: So far In Venture Capital

Global investment in 2022 has been majorly dominated by North America, Europe, and Asia Pacific, whereas the Middle East, and South and Central America have recorded low investments comparatively. In light of this, Europe and North America have been identified as the major destinations for Private Equity and Venture Capital (PE/VC) investments.   GlobalData’s whitepaper analyzes which sectors PE/VC firms have been investing in, looking at Technology, Media, and Telecom, with these sectors recording $356 billion and a deal volume of over 10,000 deals in 2022. Healthcare, Financial Services, Business & Consumer Services, and Construction sectors have also seen high investment activity by PE/VC firms, recording a deal value of over $70 billion each.   But what can this mean for you?   Understand how the Deals Database on GlobalData Explorer can be leveraged to:  
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  • Understand what is driving the PE/VC fundraising (Deal Rationale)
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by GlobalData
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The funding round, which was led by the Goldman Sachs Principal Strategic Investments group, brings the total amount of capital raised by the startup to more than €20m.

Elinvar’s existing investors, Ampega Asset Management and finleap, also joined the latest funding round.

Established in 2016 by Deutsche Bank veterans, Elinvar is the digital platform for asset and wealth managers. It focuses on “B2B2C”, enabling its partners to digitalise their business models.

It currently employs 80 people and counts several major German private banks and discretionary portfolio managers among its customers.

Elinvar said that it intends to use the proceeds to further grow its team and move into new markets worldwide.

Elinvar CEO & co-founder Chris Bartz said: “The new shareholder structure will allow us to internationalize our business and expand into other European countries. The Goldman Sachs Principal Strategic Investments group is a leading venture investor and proven expert when it comes to the future of fintech.

“We’re excited to welcome them as our shareholder. Together with the ongoing support of our existing shareholders, we have the perfect setup to make use of the possibilities ahead of us.”

Goldman Sachs’ Principal Strategic Investments group executive director James Hayward said: “Elinvar has developed innovative technology that can help accelerate the digitisation of the asset management industry.

“We are impressed with the vision and determination of the management team and look forward to supporting them as they execute an ambitious growth plan.”

Goldman Sachs has made a series of investments into fintech platforms recently. In January, it led a £45m funding round into Nutmeg, the UK’s largest digital wealth manager. 

Free Report
img

2022: So far In Venture Capital

Global investment in 2022 has been majorly dominated by North America, Europe, and Asia Pacific, whereas the Middle East, and South and Central America have recorded low investments comparatively. In light of this, Europe and North America have been identified as the major destinations for Private Equity and Venture Capital (PE/VC) investments.   GlobalData’s whitepaper analyzes which sectors PE/VC firms have been investing in, looking at Technology, Media, and Telecom, with these sectors recording $356 billion and a deal volume of over 10,000 deals in 2022. Healthcare, Financial Services, Business & Consumer Services, and Construction sectors have also seen high investment activity by PE/VC firms, recording a deal value of over $70 billion each.   But what can this mean for you?   Understand how the Deals Database on GlobalData Explorer can be leveraged to:  
  • Track the Aggregate Investment Volumes in PE/VC-Stage firms across geographies and sectors, in addition to viewing the specific deals that drove these volumes
  • Identify the top investors already active in any sector-Geography combinations
  • Assess the Performance of Financial and Legal Advisors, supporting the Dealmaking in any segment of choice (Customizable League tables)
  • Understand what is driving the PE/VC fundraising (Deal Rationale)
  Consult our full report here and optimize your business strategy.
by GlobalData
Enter your details here to receive your free Report.

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