In a groundbreaking move, Danish fintech Performativ has successfully raised €5.5 million in seed investment, led by FinTech Collective and featuring participation from UpFin, iGlobe Partners, and the Danish Sovereign Wealth fund. This infusion of capital marks a pivotal moment for Performativ, propelling its mission to redefine and modernize the wealth management sector.
Wealth management, a pivotal financial sector boasting over 24,000 companies in Europe, is grappling with archaic systems rooted in the 20th century. Recognizing the industry's pain points, Co-founder and CEO Albert Geisler Fox, drawing on his experience at a major Scandinavian wealth management firm, joined forces with Peter Barry to establish Performativ. The platform introduces a revolutionary core operating system, empowering financial firms with a scalable infrastructure that seamlessly integrates with cutting-edge native and mobile applications.
Performativ has already left an indelible mark on the industry, managing a staggering €20 billion in assets across various tax regimes and financial products. The platform stands out with onboarding times 200 percent faster than industry standards and operational costs up to 70 percent lower, ensuring a superior experience for wealth managers and their clients.
Albert Geisler Fox emphasizes Performativ's transformative vision, stating, "At Performativ, we’re not just navigating the wealth management landscape; we’re charting a new course." The platform's commitment to understanding industry pain points and bridging the gap positions it as a catalyst for change.
Toby Triebel, Partner at FinTech Collective and newly appointed Performativ board member, expresses unwavering confidence in Performativ's potential. "In Performativ, we see the infrastructure of the future wealth management industry," Triebel declares, highlighting the ambitious yet essential vision. The funding infusion will propel Performativ's expansion, offering a modern and scalable solution to thousands of potential clients still tethered to outdated legacy systems. As a market leader in the sector, Performativ's customer-focused commitment is poised to transform the wealth management landscape across the continent.