InvestSuite raises €2m in extended seed funding
Wealthtech firm InvestSuite has announced a seed extension funding round worth €2 million, bringing its total funding to date up to €6 million.
Based in Belgium, the firm helps financial institutions go digital with their wealth management systems via an artificial intelligence (AI)-based investment platform.
Founded in 2018, the firm has a presence in Europe, Latin America and the Middle East.
Bart Vanhaeren, CEO and co-founder of InvestSuite, says that the funding will enable the firm to expand its market reach and build out its products and staff.
He adds that while wealth management has traditionally been a sector slow to adopt new technology, “the ball is definitely rolling”.
“We noticed that the pace of change has significantly increased during the last six to 12 months and are talking with financial institutions all over Europe, in the Middle East, Australia and even Brazil.”
On top of its wealth management solution, the firm provides systems for multi-asset trading, quantitative portfolio construction, and portfolio reporting.
“InvestSuite’s approach to measuring risk arose from the desire to capture what people intuitively perceive as investment risk. In the end, investors all want the same thing – an account that offers the steady growth of a savings account, but with the returns of the stock market,” says Laurent Sorber, chief technology officer and co-founder.
The name of the investors in the round have not been disclosed.