Elinvar GmbH’s €25 Million Financing Round

Goodwin Procter LLP advised Toscafund Asset Management on the deal. Taylor Wessing advised Elinvar.

Toscafund Asset Management acted as lead investor in a €25 million financing round for Berlin-based wealth tech platform Elinvar GmbH. Toscafund’s investment is subject to approval by the German Financial Supervisory Authority (BaFin).

The present shareholders Ampega Asset Management, finleap and Goldman Sachs are also participating in the financing round.

Founded in 2016 in Berlin, Elinvar exclusively 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. Several major German private banks, discretionary portfolio managers and Germany’s largest umbrella, Fondsdepot Bank, are already using the platform. Within less than five years, Elinvar has grown to more than 100 employees and opened a second office.

Toscafund Asset Management LLP is a London-based multi-asset alternative investment management firm with over $4 billion in assets under management. Founded in 2000 by Martin Hughes, Toscafund has firmly established itself as one of Europe’s leading investors in the financial services sector across both public and private markets.

The Goodwin team was led by Gregor Klenk (Picture), Heiko Penndorf, Joana Pamukova and Stefan Riegger.

The Taylor Wessing team included Hassan Sohbi (Partner, M&A/Venture Capital), David Becker (Salary Partner, M&A/Venture Capital), Max Reinhardt (Associate, M&A/Venture Capital) and Max Willen (Professional Support Lawyer, M&A/Venture Capital), all Frankfurt
Involved fees earner: Gregor Klenk – Goodwin Procter; Joana Pamukova – Goodwin Procter; Heiko Penndorf – Goodwin Procter; David Becker – Taylor Wessing; Max Reinhardt – Taylor Wessing; Hassan Sohbi – Taylor Wessing;

Law Firms: Goodwin Procter; Taylor Wessing;

Clients: Elinvar; Toscafund Asset Management;