Crowdfunding startup targets wealth management software
Two Nordic companies have joined forces to develop crowdfunding of a new generation of wealth management software, intended to replace legacy systems and lower information technology costs.
Stockholm-based software developer Sharpfin has partnered with Finland-based equity crowdfunding platform Invesdor to raise up to SEK5m (€0.5m) to further roll out its Sharpfin Portfolio Management wealth management software for banks, financial advisors, asset managers and family offices.
Sharpfin CEO and co-founder Markus Alin said: “The finance industry has, for too long, been satisfied high maintenance, legacy systems. However, due to increased regulation, higher demands on flexibility and pressure on administrative costs the future demands efficient, flexible software.”
Alin previously worked as a software architect at Credit Suisse Asset Management, in management at fintech firm Swissrisk AG, and CEO at portfolio management system provider Triental. He co-founded Sharpfin together with a colleague from Triental, Billy Svensson, who has worked as programmer and as software architect roles at various projects with banks and insurance companies such as SEB, Nordnet, Swedbank and Folksam. Sharpfin’s board of directors includes Heiner Weber, former executive vice president of Lombard Odier, and Marcus Ek, head of contract management at Ericsson in the Middle Eastern and African region.
Invesdor for its part operates in Finland, the UK, Denmark and Norway.
Peter Moore, equity director at Invesdor said: “I know from my experience as a portfolio manager in London that the asset management and wealth management firms are under pressure. Compliance requirements are increasing and fees are decreasing, but the systems are still out of the 1990s.”
Further details on the crowfunding pitch are available at: https://www.invesdor.com/en/pitches/841