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.