Performativ, a Copenhagen-based platform for wealth and asset managers, raised $14 million in Series A funding. Deutsche Börse Group led the round, with participation from Rabo Investments, Jacob Dahl and returning investors, including FinTech Collective and EIFO.
Founded in 2020, Performativ provides a cloud-based platform that integrates core functions relied upon by wealth managers. Most firms are still operating multiple siloed solutions for portfolio management, compliance, trading and reporting. It combines all these elements into one platform, with the goal of minimizing manual labor and increasing effectiveness.
The system further incorporates standard automation tools for automating repetitive tasks, enhancing the speed and accuracy of operations. Such strategy is helpful for firms to manage their data in a simpler way while meeting the current growing regulatory requirements.
The firm currently counts small and mid-sized wealth managers, asset managers and private banks around Europe among its clients. The latest funding will also help it to go after larger institutions with clients that have more complex requirements.
CEO Albert Geisler Fox said the company aims to support firms dealing with rising data volumes and stricter reporting requirements. The funding will help Performativ scale its services and reach enterprise-level clients.
Wealth management is increasingly becoming a major segment of the global investment markets, and wealth managers require tools that enable them to manage provider–need details associated with client data better. This is why Performativ has a platform designed to support this demand from one integrated system.
For Deutsche Börse Group, the look also reinforces its goal of building out more investment management capabilities. Christian Kromann, said platforms such as Performativ are defining the future of operating models in financial firms.
Performativ, which has backing from a slew of big-name investors, is now looking to European expansion in a similar vertical markets supporting the many private banks and larger wealth managers that want to migrate from legacy systems.
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