Swiss fintech startup Evolute has raised €5.5 million in Series A financing. The investors were not disclosed. Evolute has also just been accepted into the Swiss Startup Factory's Growth Accelerator Program.
The company says the new capital will be used for further development of its wealth management platform, and to develop more innovative technologies for personalized portfolio optimization.
In March, Evolute announced a merger with SwissComply, a provider of regulatory services for asset managers.
"The series A round has secured the basis for further growth and helps us take a big step closer to achieving our vision, which involves much more than just industrialization and digitalization in the field of wealth management," said Kaspar Wohnlich, CEO of the Evolute Group in a statement.
"In addition to the continuous further development of our platform, our aim is to efficiently link the needs of the asset management industry with future regulatory requirements. Furthermore, the portfolio optimization technology will be made available to banks for the first time this summer. As a result, portfolio management will be completely redefined, margins will increase due to cost efficiencies and significantly greater personalization will be possible."
Read more: PR Newswire (Press release)