Vestr, a Swiss startup that provides issuers of Actively Managed Certificates (AMCs) with a software engine to digitise the value chain of active investment products, has closed a Series A round led by SIX Group.
The size of the round has not been disclosed but vestr says it was oversubscribed and joined by Zuercher Kantonalbank, EquityPitcher, and the European Angels Fund.
SIX first invested in the startup, through its FinTech Ventures fund, in 2018.
Founded by experienced traders and quants, vestr graduated from the Zurich-based F10 accelerator programme in 2017.
Discretionary investment managers use AMCs as a fast, flexible and cost-efficient alternative to investment funds.
Vestr claims hundreds of asset managers already use its platform, which promises to empower issuers to scale their AMC business, allowing them to focus on their core competencies.
"The funding will be used to further develop the platform, onboard additional issuers, and become the de-facto market standard for AMC issuers," says Stefan Wagner, head, business development, vestr.