A prominent investment infrastructure firm is significantly expanding its presence in the UK market, following regulatory endorsement. To spearhead its initiatives, the company has appointed a former executive from a well-known UK challenger bank as General Manager for the region.
This fintech, which is headquartered in Berlin, processes more than 2 million investment orders each week across various markets. With the approval from the Financial Conduct Authority (FCA) secured, the firm aims to forge partnerships with three UK financial clients by the end of the year. The organization is known for providing an Investment API, which empowers financial institutions to offer a wide array of investment products, including ETFs, stocks, and mutual funds.
The newly appointed General Manager emphasized the potential of the UK to excel in financial innovation and highlighted the desire to enable individuals to take control of their wealth. The firm’s solutions are designed to assist financial institutions, whether they are fintech companies or traditional banks, in delivering attractive and affordable investment options to their clients.
The new GM brings nearly two decades of experience in the financial sector. At her previous role, she successfully expanded the customer base and significantly increased deposit figures in a short timeframe. Her extensive background also includes leadership positions at notable financial institutions, where she honed her expertise in business operations and management.
The company is planning to establish a new headquarters in Shoreditch, London, and aims to grow its local workforce to around 50 employees in the imminent future. This expansion will complement the existing workforce of 200 employees spread across Europe.
Recognizing a notable investment gap in the UK, the firm sees a significant opportunity in a market where about 60% of adults do not actively invest. Analysis indicates that approximately 13 million adults in the UK hold around £430 billion in cash, which could potentially be directed towards investments. This is a challenge the firm seeks to address through its innovative technological solutions.
The CEO of the firm believes the new GM is exceptionally qualified to drive their UK strategy, citing her unique blend of banking and fintech experience as crucial to understanding clients’ objectives and the pivotal role technology can play in reaching those goals.
Besides concentrating on increasing its market footprint, the firm has plans to diversify its product offerings. It aims to introduce more localized tax and pension solutions, such as Individual Savings Accounts (ISAs) and Self-Invested Personal Pensions (SIPPs). Additionally, the firm is looking to expand into new asset classes, encompassing derivatives, bonds, and European Long-Term Investment Funds (ELTIFs).
Founded in 2017, the organization collaborates with various European financial institutions, enhancing their capabilities with innovative solutions. Recently, it completed a funding round that garnered €100 million, led by notable venture firms, further facilitating its expansion and growth endeavors.
The firm is optimistic about tripling its current order rates by the end of the year, as it scales its operations and strengthens its position within the UK market. The combination of a seasoned leadership team and strategic plans for growth indicates a promising trajectory for the company in the competitive investment landscape.