Finantix acquires Asian wealthtech start-up Smartfolios
Finantix, a provider of sales and advisory software to financial institutions, has acquired Singapore-based Smartfolios, a creator of quant-enabled investment tools.
With this deal, Finantix says it can combine its API-driven architecture, technology and its recently launched artificial intelligence (AI) offering with Smartfolios’ quantitative analysis solutions to deliver a digital wealth management platform.
Ralf Emmerich, co-founder and director of Finantix, says the acquisition will “extend our coverage and support for key actors like CIOs and investment strategists and provide a solid foundation for strategic robo-advisory initiatives that don’t follow a low-end formula”.
Finantix provides wealth and hybrid robo-advisory solutions to wealth managers, private banks and insurers in more than 40 markets.
Together, they plan to cover investment processes including strategy building, house view distribution, robo-personalised portfolios and analytics.
Financial details about the acquisition were not disclosed.
Venice-headquartered Finantix has a customer base spanning over 45 countries, and has eight offices across Europe, North America and Asia.