Spanish automated investment management firm Finizens has announced a €700m capital increase, as it has attracted the interest of international and local investors.
With this operation, Finizens is bringing in a renowned group of personalities from the world of finance and the technological sector, all of whom are banking on the possibilities for the project to grow. This latest group of stakeholders will join the other business angels and global family offices upon which the firm has counted since its creation.
Among the new shareholders are:
- Inversiones Altius SL: entity with track record in fintech startups investing.
- Miguel Haupt: ex-country head at Morgan Stanley in Switzerland, also former managing director at Deutsche Bank.
- Reza Ghassemi: head of Digital & Innovation, Financial Services at Carrefour. Previously, he worked for Google.
- Steven Zitzer: finance master’s degree professor at CUNEF; expert in fintech and financial regulation, and former executive at BBVA.
- Jordi Bartomeu: founder of several startups and fintech sector investor.
“The arrival of these new shareholders shows that our business model represents the future of the asset-management industry. Counting on the support of such relevant personalities for our sector gives us great support not just from the financial perspective, but also in terms of the prestige and the recognition of our landmark achievements in the worlds of investment and technology,” said Giorgio Semenzato, CEO of the firm.
Finizens was developed under the scope of Axon Partners Group, an international venture capital firm, strategic consultancy and investment bank. It uses technology and algorithms capable of automating passive investment, making this process simple and accessible.
The firm aims to attract 120,000 customers before 2020 while exceeding €3bn in assets under management.
At the end of 2016, Finizens received authorisation from the Spanish market regulator CNMV to start operating in Spain under a securities agency format. At the beginning of this year, the entity launched its first product via Caser: an online passive management savings plan under a life insurance and Unit Linked savings format. Also via Caser, it recently launched a pension plan, made up entirely of passively managed funds, and aimed at retail investors.
Finizens claims to be the first savings and investment tool at an international level that offers full online access to passive investments, with the lowest opening balance (€100), and commissions that are up to 85% lower than those of banks.