The Frankfurt-based Robo Advisor Ginmon just closed a financing round in the 7-digit Euro range to pursue their international growth strategy. The four-times oversubscribed financing round was led by London based VC Passion Capital.
Ginmon was founded in the end of 2014 with the goal to revolutionize the way we invest our money in the future. The fintech company enables private customers to invest in ETF-portfolios, which are managed by state-of-the art software technology.
Lars Reiner, the founder and CEO of Ginmon stated that the fresh capital will help the startup to further develop their technology platform. The ambitious Ginmon team wants to scale the Robo Advisor for the global market.
Passion Capital is one of London’s leading early stage investors. Since its founding in 2011, the investment firm has supported more than 50 startups throughout Europe.
The successful round of financing marks yet another milestone in Ginmon’s. 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.
Ginmon is now concentrating on its long term strategy by expanding its team. Lars Reiner stated: “In addition to software developers, we are also strengthening our marketing and product development teams. We also hire recent graduates.”