[Funding alert] Copenhagen-based Fintech Startup Performativ Secures €5.5 million in Seed Funding
Nov 9, 2023 | By Team SR
Copenhagen-based fintech startup Performativ secures €5.5 million in seed funding. The investment was made to support the business's growth in terms of its customer base and offerings.
The company had previously raised $700,000 in a Pre Seed round headed by Denmark's VF Venture, an arm of the Danish Growth Fund (Vaekstfonden), and FinTech Collective led the €5.5 million Seed investment.
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A Microsoft poll indicates that just approximately one-third of CEE financial institutions have set up teams working on the issue of traditional banks and financial institutions failing to stay up in today's digital-first environment, while one-fifth of them aren't dealing with it at all.
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This problem, which frequently involves the use of outdated technologies dating from the 1980s to the early 2000s, continues to get worse. The banking sector alone spends over $200 billion on technology, and 85 percent of that amount is devoted to "running the bank," or modifying regulations and maintaining infrastructure.
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Comprising around 24,000 companies across Europe, spanning from major banks to specialised wealth managers, the financial problems linked to legacy difficulties intensify rapidly.
Albert Geisler Fox elaborates: “We’re not just navigating the wealth management landscape; we’re charting a new course. Our commitment is to understand the industry’s pain points and bridge the gap.This funding is a testament to our unwavering dedication to empowering financial institutions and wealth managers with the tools they need to thrive in a rapidly evolving landscape.”
About Performativ
Revolutionising the HNWI customer experience as well as the wealth management advising process. Performativ are currently collaborating with a large number of custodians—and the number of them is still growing—to give advisors access to a broad analytical view of their clients' portfolios and to give clients access to a branded, easy to use app that allows them to view their entire wealth portfolio, including both liquid and illiquid assets that are under and beyond the purview of the wealth manager.
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