Elinvar announced a €25 million funding round led by Toscafund

Elinvar, a Berlin, Germany-based SAAS developer for asset & wealth managers, announced completing a €25 million ($30.3M) funding round.

The money was raised from investors led by Toscafund Asset Management and includes contributions from existing shareholders Ampega Asset Management, finleap and Goldman Sachs.

Elinvar, founded in 2016 by CEO Chris Bartz, focuses on B2B2C, enabling its partners to digitalize their business models. The Platform as a Service (PaaS) offers a multi-tenant solution with the vision to connect the entire wealth management ecosystem. While Elinvar delivers the technological infrastructure, banks, discretionary portfolio managers, third party providers and all other users of the Elinvar platform can efficiently execute new business models, access new value chains, optimize their costs and utilize their core competencies.

Within less than five years, Elinvar has grown to more than 100 employees and opened a second office in Magdeburg.