HomeFundingGerman fintech startup CASHBOARD raises $2.2 million for further growth

German fintech startup CASHBOARD raises $2.2 million for further growth

Berlin-based fintech company CASHBOARD was founded in August of 2014, and acts as a digital investment intermediary. The platform enables private, as well as institutional, investors to deposit amounts starting at €100 in a diversified way.

CASHBOARD’s users benefit from fully automated algorithms for portfolio management, risk mitigation and tax optimisation. Investors are able to deposit their money in traditional as well as innovative assets like funds, shares, real estate and overnight deposit accounts as well as P2P lending, crowdfunding and social trading. Contrary to other fintech startups, CASHBOARD is completely free of charge and works on a success-oriented, profit-sharing basis.

The company cooperates with the European Bank for Financial Services (ebase) to guarantee financial security for its users. In addition, the comdirect subsidiary manages all of the money invested via CASHBOARD. Every user obtains an individual account and depot, and thanks to video verification and electronic signatures, the accounts can be opened completely online and without any paperwork.

The startup recently raised $2.2 million in new funding round led by Earlybird and Redalpine Ventures, with participation of 500 Startups, Heilemann Ventures, Heiko Hubertz, as well as previous stakeholders Seven Ventures and Makers.

CASHBOARD is already one of the leading financial technology startups in Germany and has received a number of awards; the company attended the SevenVentures Pitch Day in November 2014 and won Europe’s ‘most valuable prize for startups’, also known as €4 million in media time to advertise its product on ProSiebenSat.1 Group’s TV channels, with a campaign planned to launch in Autumn 2015.

Peter Niederhauser, Partner of the Zurich based Venture Capital Funds Redalpine Ventures, said: “CASHBOARD stands out from all the other online investment solutions by offering considerably wider portfolios that allow users to invest even in innovative assets such as P2P credits and crowd-investing. In our eyes this is a really strong competitive advantage in an exciting market.”

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Ieva Treija
Ieva Treija
Ieva Treija has joined EU-Startups.com in August 2015. She has two passions: marketing and startups. Background in journalism helps her to put both passions together and come up with exciting stories for the readers. Ieva lives in in Riga (Latvia).

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