The Venture Codex

Participated · Series B · Jul 2019

Finizens provides automated, passive index investment portfolios using algorithms, periodic rebalancing and low-cost funds from managers such as Vanguard and Amundi. The firm claims highly diversified portfolios (covering up to 17,000 positions) and fees up to 85% lower than traditional bank products, with reported long-term client returns roughly +3.5% per year above the Spanish market average. Its product range includes transferable fund portfolios, pension plans, children’s plans, savings insurance and a premium offering, and it also supplies roboadvisor services to institutional partners like EVO banco and Caser Seguros. As of July 2019 Finizens served more than 6,400 clients. Management says the company will use investor support to consolidate exponential growth, expand its client base and further sophisticate its product and service offering. Shareholders had injected more than €8 million into the business since founding.