European investing App Peaks has raised €1.38 Million on Republic Europe topping its initial goal of €1,000,000.
According to the offering page, Peaks was selling equity at a pre-money valuation of €52 million. Investors in the securities offering numbered 2128, aquiring a 2.55% equity stake in the early stage firm.
Peaks is a Fintech that aims to serve investors by providing a simple and accessible App that caters to the masses. Recognizing that over 60% of Europeans do not invest, they see an opportuinty to alter this paradigm.
The App focuses on long term wealth creation for younger people. Approximately 40% of current users are women.
As of today, Peaks is serving more than 100,000 customers in Germany and the Netherlands.
Assets under administration grew by 61% in 2023 and for the first half of 2024, assets have increased by another 30%.
In total, Peaks reports €339 million in assets under management (as of June 30th 2024). Peaks states that its gross revenues grew 49% in 2023 to €3.3 million.
Peaks generates revenue from subscriptions and fees. The company plans to roll out to three other European countries by 2025.
Peaks is regulated by the Autoriteit Financiële Markten (Dutch Financial Markets Authority) and De Nederlandsche Bank (Dutch Central Bank).
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