Danish Wealthtech Startup Performativ Secures €5.5 Million in Seed Round

Published 5 months ago

Danish wealthtech startup Performativ has successfully raised €5.5 million in a seed funding round. The round was orchestrated by FinTech Collective, a prominent investor in the fintech sector.

Performativ’s Core Technology Suite

Performativ’s main product is a technology suite designed to streamline operations across various offices of wealth managers. The suite also includes native mobile applications for end customers. According to the firm, the platform is capable of achieving onboarding speeds that are up to 200 percent faster than industry standards. It also claims to reduce operational costs by 70 percent.

Founders and Their Vision

Performativ was established in 2020 by Albert Geisler Fox and Peter Barry, both of whom previously worked at Goldman Sachs and BlackRock. The founders identified the difficulties in replacing outdated systems at a well-known Scandinavian wealth management firm. Fox has stated that Performativ is not just navigating the wealth management landscape but is charting a new course. The firm’s commitment is to understand the industry’s pain points and bridge the gap.

Current Status and Future Plans

Currently, the platform manages over €20 billion in assets across five countries. The accounts include a diverse portfolio of listed equities, private equity, real estate, and infrastructure assets, and are custodied across various tax regimes. The firm received its initial funding in 2022 from Scandinavian fintech investor UpFin, Singapore deep tech fund iGlobe Partners, and the Danish Sovereign Wealth fund, EIFO.

The recently raised funds will be used to expand into new markets, allowing the firm to increase its footprint and offer its services to a wider clientele.