Spanish robo adviser Finizens launches €4m capital increase

Spain’s automated investment management firm Finizens has announced a capital injection six times bigger than the previous round of financing raised a few months ago, following the interest seen from local investors, since the company was launched six months ago.

The operation will bring both new national and international investors to invest capital into the fintech, while some of its existing shareholders will keep their stakes.

Spanish insurance company Caser Seguros, which has been working with the company since its launch, is among the new shareholders joining the project. Institutional investor Fintech Ventures will also take part in the new capital injection.

Giorgio Semenzato, Finizens CEO and co-founder said: “We couldn’t be more proud of the support that we have received on the part of investors with such calibre and international prestige, as well as the continued support received from our existing shareholders.

“Society needs real and effective solutions to assure its financial future, and based on these propositions we have come up with a unique and accessible offer for the general public. We are the future of universal saving.”

In March 2017, the firm announced a €700m capital increase raised from local and international shareholders such as Inversiones Altius SL, Miguel Haupt (former country head at Morgan Stanley in Switzerland), and Jordi Bartomeu (founder of several startups and fintech sector investor), among others.

Finizens and Evo Banco recently reached an agreement aiming to lead digital banking. According to the terms of the deal, the bank provides its clients with robo-advisor services via Finizens’ technology platform and investment algorithms.

The company claims to provide full online access to passive investments, holding the lowest initial amount (€100) with commissions up to 85% lower than those of banks.

 

ABOUT THE AUTHOR
Eugenia Jimenez
Eugenia Jiménez speaks Spanish and is Iberia Correspondent for Investment Europe covering Spain & Portugal, as well as assisting with coverage of Italy. She holds a UK NCTJ- accredited Multimedia News Reporting course and studied Journalism at the University of Sevilla. She has worked for local media organisations in Sevilla and Málaga, mainly in broadcasting as a news reporter, among other roles. She has also worked for a local newspaper in Sevilla, reporting on current affairs, local government and culture.

Read more from Eugenia Jimenez

preloader
Close Window
View the Magazine





You need to fill all required fields!