Fintech Funding Fintechs
Invesdor has listed a new investment opportunity on its European crowdfunding platform. Sharpfin AB, a Stockholm based Fintech, is seeking funding to develop the next generation of wealth management software.
Sharpfin sees a finance industry that is riddled with high maintenance legacy IT systems that incredibly out of date. Add this to the fact that Increasing regulation is making it more challenging for financial service providers to offer wealth management services while keeping up with compliance challenges. Sharpfin wants to be the solution to solve these legacy issues while lowering costs.
Sharpfin offers modern wealth management software for banks, financial advisors, asset managers and family offices. The company is crowdfunding on Invesdor to raise up to SEK 5 million (USD $617,000). Sharpfin is offering up to 14.43% equity in their company. As of today, 21 investors have kicked in over SEK 1 million.
“The finance industry has, for too long, been satisfied high maintenance, legacy systems. However, due to increased regulation, higher demands on flexibility and pressure on administrative costs the future demands efficient, flexible software. The future needs Sharpfin,” says Sharpfin CEO and co-founder Markus Alin.
Prior to founding Sharpfin, Alin was software architect at Credit Suisse Asset Management, management at Fintech firm Swissrisk AG and CEO at portfolio management system provider Triental AB. Alin founded Sharpfin together with a colleague from Triental, Billy Svensson.
Svensson has worked as programmer and as software architect roles at various projects with banks and insurance companies such as SEB, Nordnet, Swedbank and Folksam and as an entrepreneur.
Sharpfin’s board of directors includes Heiner Weber, former executive vice president of Lombard Odier, and Marcus Ek, head of contract management at Ericsson in the Middle Eastern and African region.
Invesdor clearly likes to be a funding vehicle for other disruptive Fintech firms. Sharpfin’s equity offering is one of the first crowdfunded offers since Invesdor expanded into Sweden. Currently, Invesdor operates in is home base of Finland, Norway, Denmark and the UK.
“I know from my experience as a portfolio manager in London that the asset management and wealth management firms are under pressure,” states Peter Moore, Equity Director at Invesdor. “Compliance requirements are increasing and fees are decreasing, but the systems are still out of the 90s. Sharpfin has the technology, the people and the network to take advantage of this changing industry.”
Alin believes that crowdfunding is the future of investments;
“Having many investors investing smaller portions make their investment portfolios more diverse”, adds Markus Alin. “This is in line with the very essence of our vision. We even have parts of the measure for risk adjusted performance in our company name, ‘the Sharpe ratio’.”
Since 2012, Invesdor has helped 93 growth companies raise funding from investors of more than 70 nationalities.
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