Danish wealthtech startup Performative has successfully raised €5.5 million in a seed funding round led by FinTech Collective.
Performative’s technology suite is designed to enhance operations across the front, middle, and back offices of wealth managers, while also offering native mobile applications for end customers. The company claims its platform can achieve onboarding speeds that are 200 percent faster than industry standards and can reduce operational costs by 70 percent.
Founded in 2020 by CEO Albert Geisler Fox and CTO Peter Barry, both of whom have backgrounds at Goldman Sachs and BlackRock respectively, Performative was established in response to the challenges of updating legacy systems at a leading Scandinavian wealth management firm. Fox states, “We’re not just navigating the wealth management landscape; we’re charting a new course. Our commitment is to understand the industry’s pain points and bridge the gap.”
The platform currently manages over €20 billion in assets across five countries, including accounts subject to various tax regimes, with a diverse range of investments in listed equities, private equity, real estate, and infrastructure assets. Initial funding was secured in 2022 from Scandinavian fintech investor UpFin, Singapore deep tech fund iGlobe Partners, and the Danish Sovereign Wealth Fund, EIFO. The new capital will be utilized to expand into new markets.