Neobank MyInvestor has reportedly reached €2 billion in volume, which “doubles the 1 billion euros registered in March 2021, consolidating its position as the largest Spanish fintech by volume.”
Now serving more than 110,000 customers, MyInvestor also has “an investment balance (funds, plans and portfolios) of 1.075 billion euros, which accounts for more than half of total business.”
As mentioned in the update, the balance for fee-free remunerated accounts “stands at 537 million, while the volume represented by mortgages and loans comes to 388 million euros.”
These figures have “positioned it as one of the largest European fintechs in terms of both growth over the last year and volume.”
The digital bank, which has Andbank España, El Corte Inglés Seguros and AXA España among its shareholders, has “undergone record growth through strong inflows of funds to investment products, especially indexed plans and funds, and the robo-advisor (discretionary managed indexed portfolios).”
In this regard, the neobank has “redoubled its commitment to international funds with the recent incorporation of Vanguard’s range of actively managed funds, becoming the first institution to market this range from the US investment management company in Spain.”
MyInvestor also “maintains its leading position in passive management in Spain, offering indexed funds with the market’s most competitive conditions, with funds in that regard from Vanguard, as well as from iShares and Amundi.”
At a time of steady growth, MyInvestor is also “committing to continuing to offer solutions and becoming a marketplace for investment products where customers can access the market’s best products with the best conditions and the convenience of having their investments integrated on the same platform.”
As a result, MyInvestor has become “the first European fintech to allow its customers to directly invest in the real estate sector, through an alliance with crowdfunding platform Urbanitae.”
Customers will have “the option of investing in real estate financing operations of between 500 and 5,000 euros per project, via the digital bank’s website or app, with a target return that could reach 30% within a period of 26 months.”
MyInvestor has also been the first player “to offer Lombard loans to invest in their products at a very competitive price.”
MyInvestor claims that it democratizes investment solutions, “as this is a service that has been traditionally targeted to private banking clients.”
