Elinvar closes €20m Funding led by Goldman Sachs

BFSI News

Elinvar-closes-€20m-Funding-led-by-Goldman-Sachs Elinvar closes €20m Funding led by Goldman SachsElinvar GmbH, a Berlin-based digital asset and wealth management platform, as per recent reports last week, has just closed a funding round of a specified amount. With this recent funding, Elinvar has to date raised over €20 million in capital funding.

The recent funding round, which was led by New York, NY-based Goldman Sachs Principal Strategic Investments group, and participated by Elinvar’s two existing investors Ampega Asset Management and Finleap, is subject to the approval of BaFin, one of the largest financial supervisory authorities in Europe.

Elinvar, founded in 2016, is the digital asset and wealth management platform that focuses on B2B2C. The Berlin-based company enables its partners to digitalize their business models. The platform already has a long line up of takers with several major German private banks and discretionary portfolio managers, already utilizing the digital platform. Privatbank Donner & Reuschel, Fürstlich Castell‘sche Privatbank, and M.M. Warburg & CO are amongst the platform’s list of takers.

Speaking on this, Harry Ploemacher, CEO of Ampega Asset Management says, “Elinvar has grown extensively in the past two and a half years and proven its business model. We are convinced that this is the optimal setup to support the company’s continuous growth and its expansion to the European market.”

Elinvar plans on utilizing the recent investment to further expand its team of professionals, along with the expansion of its offerings to countries in the EU region.