Storebrand becomes the largest shareholder in Quantfolio
by Jan Aage Skaathun, on 11 January 2022 12:12
The investment by Storebrand marks the start of a partnership intended to further drive innovation and build new services for savings and wealth advisory with a clear focus on sustainable investments.
The Nordic asset manager Storebrand has invested in Quantfolio and becomes the largest stakeholder in the Bergen based FinTech company. Together, the two companies will develop new services, build shared knowledge about quantitative allocations methods and sustainable investments as well as support the path to international expansion.
"We are thrilled to finally share this news. We have through our relationship come to know Storebrand as a forward-looking asset manager with a clear vision of how technology can integrate sustainability insights into investment solutions through cutting edge user experience, and we see it as a huge vote of confidence that they not only have selected us as supplier to further expand their vision, but also now invests in the company”, says Jan Åge Skaathun, CCO, Quantfolio.
The investment follows a recently signed agreement for Quantfolio to provide their omni-channel advisory technology for Storebrand and the companies have in this process found common ground in terms of focus on sustainability and digitalization within financial advisory.
"We look forward to continue to work with all the creative minds at Quantfolio. Their core capabilities in quantitative modeling and development of digital solutions complement ours in sustainable investments and other areas well, so together we can really step up the pace of innovation. The aim is to boost the client experience and we have identified several opportunities to provide clients with simpler, better integrated services and reporting", noted Jan Erik Saugestad, CEO Storebrand Asset Management.
Expanding offer for European clients
The investment represents an important step in Storebrand's work to facilitate user-friendly digital services for its clients. It will also help Quantfolio grow internationally, with immediate plans for further expansion across the Nordics and Northern Europe. Quantfolio has signed several major clients in 2021 and is looking to recruit a range of talents to drive growth.
“There are so many forces pushing the need for data and digital solutions within investment advisory in the next few years. From increasingly moving regulatory targets, the need for hyper personalization and not least the implementation of the EU Taxonomy within the advisory flow. With our technology and team, we are perfectly positioned to take a global leadership role in this field and look forward to pursuing this ambition with Storebrand onboard", Helge Hannisdal CEO, Quantfolio, concludes.Through this investment from Storebrand and further investments from existing shareholders, Quantfolio secures 70 MNOK to fund further innovation, growth and international expansion.
Transaction date January 11, 2022.
Per Bjarte Ulvedal Nes, Head of Group Venture Capital, Storebrand and Sara Thea Von Zernichow Sponheim, Head of Client Services & Transformation, Storebrand Asset Management will both become Members of the Board of Directors in Quantfolio.
Quantfolio is a Norway-based Fintech company providing B2B(2C) advisory technology for banks and wealth managers across the Nordics. The company delivers omni-channel robo-advisory/advisor tool & API modules for major FI´s across Nordics with a sustainable focus. The team consists of experienced serial entrepreneurs, data scientists, quants/mathematicians, developers and financial experts.
Storebrand Asset Management is a Nordic asset manager and a pioneer in sustainable investments. The company manages over NOK 1 000 bn in private and public markets, based on its strategy for sustainable investments.
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