British Venture Capital Fund Invests in Ginmon

In a four-times oversubscribed financing round, the London-based venture capital fund, Passion Capital, took the lead. "We were convinced by the incredibly ambitious team and the strong growth of Ginmon.

We look forward to working together and pursuing the great vision together," says Stefan Glänzer, partner at Passion Capital.

"The capital raised will primarily be used to further develop the in-house technology platform and to drive forward international expansion," explains founder and managing director Lars Reiner, who wants to expand Ginmon into a globally operating robo-advisor.

Passion Capital is London's leading early-stage investor in fintechs and has invested in over 50 companies in Europe since its founding in 2011. Ginmon is Passion's first fintech investment outside of Great Britain.

Next Milestone Achieved

The successfully completed financing round marks another milestone in the company's history to date.

After receiving the BankingCheck Award for "Best Robo Advisor of the Year 2016," Ginmon was awarded the Frankfurt Founders' Prize in May this year for its particularly innovative business model.

To maintain its leading position, Ginmon is now increasingly focusing on its long-term strategy and is further expanding its team: "In addition to software developers, we will also significantly hire in the areas of marketing and product development.

We also offer internships and positions for student trainees," adds Reiner, who studied at Goethe University Frankfurt and still maintains connections with universities.