Performativ Secures €5.5M to Transform Europe's Underserved Wealth Management Sector

Fundraising News
09.11.2023 09:40 am

Performativ, a visionary leader in wealth management technology, has secured a €5.5 million seed investment led by FinTech Collective. This investment will supercharge Performativ’s mission to revolutionize the outdated and underserved wealth management industry across the continent.

Europe’s financial services industry, comprising over 24,000 companies ranging from large banks to smaller wealth managers, has relied on legacy systems born in the last century. These outdated, on-premise solutions require over 100 hours of manual work per month, have complicated technical setups, and need dedicated support staff.

Performativ has rapidly emerged as the premier choice for the European wealth management sector, offering a game-changing core operating system that empowers financial firms to navigate the future on a scalable infrastructure. The platform's technology streamlines the processes of its clients' front, middle, and back offices, creating a significant change in an industry long overdue for a digital transformation.

Performativ’s story began in 2020 when CEO Albert Geisler Fox witnessed the challenges of replacing legacy systems at a prominent Scandinavian wealth management firm. Frustrated with existing offerings, he joined forces with now CTO Peter Barry. Their combined experience at financial giants such as Goldman Sachs and BlackRock fueled the creation of Performativ - a shared vision of the wealth management operating system of the future.

Performativ's proposition for Europe’s wealth management sector stands out. Its cutting-edge technology provides an intuitive framework for financial institutions, coupled with best-in-class service and native mobile applications for end customers. The platform’s simplicity and user-friendliness reduce onboarding time by an impressive 200 percent compared to industry averages. Once onboarded, reducing operational costs by up to 70 percent.