We are thrilled to announce FinTech Collective’s lead role in the €5m+ Seed investment in Performativ, a Copenhagen based company building an operating system for wealth managers. This capital will allow Performativ to supercharge their sales channels and scale within and beyond their current footprint of six European countries, in addition to continuing to build products that add value across back, middle, and front office functions.
Performativ provides game-changing value to the European wealth management sector numbering 24,000+ firms in a region and industry long overlooked by tech advancements. Clients benefit from a centralized hub for portfolio management and client relationships, along with real-time, transparent data. AI-enabled workflow automation addresses onboarding, data ingestion, reporting, reconciliation, and compliance needs, making processes much more efficient and allowing teams to focus on growth-generating business functions.
The revenue potential of this market reaches nearly €5b, with mounting tailwinds throughout the industry. Amid the generational wealth transfer tech-savvy clients are increasingly demanding more sophisticated platforms with digital interfaces for portfolio monitoring and visualization. Meanwhile, growth is only attainable if operational complexities are addressed, as compliance and reporting across multiple geographies continues to present challenges for otherwise programmable tasks. To add to these considerations, new ESG and sustainability standards have presented further time consuming analysis and monitoring requirements.
The combination of Performativ’s end-customer and advisor-facing platforms not only address existing pain points, but also unlocks the growth potential for the next generation of wealth managers. The workflow automation and client experience that now sets firms apart will soon be an imperative to continue to compete in the European ecosystem.
FinTech Collective’s wealth management thesis dates back 10+ years to the firm’s inception. While we have seen category-defining businesses born in the US throughout the past decade, the same has not been true of early-stage innovation in Europe. Legacy players continue to dominate the enterprise segment with a product suite that has been stitched together via acquisitions and add-ons. But in an attempt to do everything for everyone, gaps remain: lengthy integration processes, expensive support staff, and manual workflows with little automation have left the majority of wealth managers that cannot afford the cost or time investment to implement these solutions un- or underserved…until now.
We first met Performativ’s core team more than a decade ago while the FTC partners were working as operators. Several touch points have followed as the FTC team worked with Albert Fox (CEO) and key management team members throughout our time in the fintech and wealth management industries. In reconnecting over the past year we’ve been struck by the lightning in a bottle team with a laser focus on revolutionizing the wealth sector in Europe. Albert has experienced the problem that he is building for firsthand, which drives his vision and conviction, while Peter Barry (co-founder and CTO) brings extremely deep technical expertise and access to dev talent throughout the financial services industry.
This raise is just beginning of Performativ’s trajectory, and we look forward to working closely with the team to build a wealth management platform that is fit for the future, allowing firms to increase operational efficiency, scale more quickly, and meet the digital demands of their clients.
Performativ marks Fintech Collective’s first investment in Europe since the announcement of our new office in London, joining portfolio companies including Mondu (Berlin), Anyfin (Stockholm), and IMMO Capital (London). FTC’s global wealth management has been a pillar since inception, encompassing Vestwell, Quovo (exit to Plaid), and NextCapital (exit to Goldman Sachs).We are pleased to bring our rigorous sector focus, deep understanding of fintech business models, strong operator DNA, global portfolio insights, and connectivity to US networks and capital to support Performativ and the rest of our portfolio.
"At Performativ, 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."
Albert Fox - Performativ CEO