Frankfurt based Robo Advisor closes financing round in the 7-digit Euro range to pursue their international growth strategy. Among the biggest investors are the London based VC Passion Capital.
In a four-times oversubscribed financing round, London based venture capital fund, Passion Capital, took the lead: “The very ambitious team and the strong growth we have seen makes Ginmon a great investment opportunity for us. We look forward to working together and pursuing their great vison”, said Stefan Glänzer, partner at Passion Capital. “The capital collected will help us to further develop our technology platform”, explains founder and CEO Lars Reiner, who wants to scale the Robo Advisor for the global market. Passion Capital is London’s leading early stage investor. Since its founding in 2011, Passion has supported more than 50 start-up companies throughout Europe. Ginmon is Passion Capital’s first FinTech investment outside of the United Kingdom.
The successful round of financing marks yet another milestone in the young company’s history. After receiving the BankingCheck Award, “Best Robo Advisor 2016”, Ginmon was also honoured with a Founder’s Prize from the city of Frankfurt in May this year for its innovative business model. In order to maintain its leading position, Ginmon is concentrating on its long term strategy by expanding its team. “In addition to software developers, we are also strengthening our marketing and product development teams. We also hire recent graduates”, adds Reiner, who studied at Frankfurt’s Goethe University and still maintains contacts there.