FundShop, € 2.2 million to help banks and insurance companies manage their customer portfolio

by bold-lichterman

  • FundShop develops white label applications aimed at banks, insurance companies and brokers.
  • This funding round should enable FundShop to grow from 12 to 20 institutional clients by the end of the year.
  • The start-up also plans to strengthen its workforce to accelerate its international development.

The amount

The Parisian start-up FundShop, which publishes a savings management support platform, has secured a round of funding of 2.2 million euros with the social protection group Apicil. In 2014, the company raised 300,000 euros from Axa Strategic Ventures.

The market

Founded in 2013, under the name Supportfi, by Léonard de Tilly and Florian de Miramon, FundShop develops white label applications for banks, insurance companies and brokers. These help them in managing their portfolio.

However, the young French startup does not only offer B2B solutions. At the same time, it has developed an offer for individuals to allow them to directly manage their financial portfolio thanks to a virtual advisor. To date, the company claims 3,646 created portfolios and 14 life insurance contracts referenced on its platform.

In the automated portfolio management market, FundShop faces increasingly stiff competition. Indeed, FinTechs like Advize, Yomoni, Marie Quantier or Grisbee, have positioned themselves in the same sector of activity.

The objectives of the Start-up

This new investment should enable FundShop to grow from 12 to 20 institutional clients by the end of the year. The start-up also plans to strengthen its workforce to accelerate its international development. FundShop plans to focus its efforts on Europe and the United Arab Emirates.

Founders: Léonard de Tilly and Florian de Miramon

Foundation: 2013

The head office : Paris

Activity: savings management support platform

Funding: 2.2 million euros in June 2017

Read also: Grisbee raises 3 million euros to democratize wealth management