French seeding manager NewAlpha Asset Management has made a sixth fintech investment for the French venture capital fund dedicated to fintech companies it launched in November 2015.
NewAlpha has invested in Austrian social trading platform wikifolio.com to speed up the international development of its online innovative trading platform.
Launched in 2012, wikifolio.com consists of an online financial platform enabling both investment professionals and private individuals to conduct their investment strategies on virtual portfolios, called wikifolios.
Each portfolio constitutes the basis for an exchange traded financial product (wikifolio certificate) with an individual security number listed on the Stuttgart Stock Exchange.
Through these wikifolio certificates, investors automatically “follow” trades in the respective wikifolios and participate in their performance.
More than 17,500 wikifolios, over 6,300 listed wikifolio certificates and a €12bn worth of traded volume have been recorded so far by the platform.
In 2017 wikifolio.com already recorded a 40% increase in assets under management.
Andreas Kern, founder and CEO of wikifolio.com, said: “NewAlpha Asset Management brings international expertise and experience to us – in terms of the French market in general but also regarding joint global growth initiatives.”
“Since its launch, wikifolio.com has delivered an outstanding performance. We have been particularly impressed by its innovative business model that will revolutionize the investment management industry by opening up the routes adapted to the next generation of individual investors”, commented Jonathan Cohen Sabban, investment director at NewAlpha.
“This is the first international investment of our Venture Capital fund dedicated to FinTech start-ups and I believe it will pave the way for the fund’s international expansion. We are eager to deal with the best Fintech companies in Europe and we are glad to start with wikifolio.com, as asset management is our core expertise”, added Lior Derhy, managing director and head of Private Equity at NewAlpha.