Finanbest, a Madrid-based licensed securities agency that offers a digital end-to-end wealth management solution for retail investors, has successfully secured its initial £175,000 Crowdcube funding target and is now nearing £280,000 thanks to more than 100 investors.
As previously reported, Finanbest has targeted the Spanish mutual funds market of more than €250,000 million in 2017, which experienced 20% annual growth in the last 5 years and 9 million savers and investors. Finanbest offers an investment model for those investing €3,000 euros or more, using an experienced team and advanced technology. The company revealed it believes it provides private banking services at a fraction of the traditional cost, with a four-step model automated and optimized from beginning to end:
- outline of the investor’s risk profile
- customized investment proposal using the Black-Litterman algorithm
- selection of world leader funds
- dynamic monitoring
“In 2016 we built the platform, obtained necessary licenses and recruited the team,” explained the campaign. “In April 2017 we launched our business and in the last 12 months we have closed two relevant distribution agreements, have more than 250 retail clients and manage €10 million AuM. Our personalised portfolios have yield 2% additional average return over the market and cost savings of up to 70%.”
Speaking about the Crowdcube success so far, Finanbest’s team stated:
“As you may probably have seen, there has been a new big investment that has driven us to direct overfunding. We have been negotiating for weeks and finally signed with one of the most relevant investors in the Spanish arena, ex-founder and CEO of a large listed company (in the Spanish Stock Exchange). Due to the strategic importance of this entrance for Finanbest, we have accepted a minor valuation, 1.712.000 GBP, that obviously is applied (and benefits) CC investors. Due to this new situation, CC round has been extended for investors 16 days more.”
The campaign is set to close mid-July.
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