The operator of the Swiss stock exchange, the SIX Group, was responsible for heading up a group of professional investors for the Series A financing round of vestr. The group included the Zurich Cantonal Bank (ZKB), EquityPitcher from Zurich and the European Angels Fund, a sub-fund affiliated with the European Investment Fund (EIF). This oversubscribed Series A financing round has now been closed by vestr, with the FinTech now planning to use the capital raised for the further development of its platform, according to a press release.
With its platform, vestr is making available the first independent software for the digitalization of value chains for active investment products to issuers of Actively Managed Certificates (AMCs). “The funding will be used to further develop the platform, onboard additional issuers, and become the de-facto market standard for AMC issuers”, comments Stefan Wagner, Head of Business Development at vestr. The vestr platform is already being used by hundreds of professional asset managers.
One of the earliest adopters of the vestr platform, Bank Julius Bär, commented on the positive impact of the technology on its business: “The flexible vestr platform empowers our clients to create and manage AMCs in a highly performing and intuitive way”.
The vestr business model supports the creation and lifecycle management processes linked to AMCs. The start-up therefore offers an alternative to investment funds that is considered to be a flexible and cost-effective solution. With vestr, asset managers are able to launch and manage their own funds-adjacent products.