Financial advice and wealth management platform Ramify has revealed a €11m ($11.8m) Series A funding round.
Leading the round was 13books Capital with participation from AG2R, Crédit Agricole, Newfund, and Fidelity International Strategic Ventures.
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With funding, Ramify will be able to expand more quickly and establish itself as the preferred investing option for France’s newest class of wealthy investors.
Olivier Herbout and Samy Ouardini founded Ramify in 2021 to simplify the use of multi-product asset management and to meet the changing needs of customers looking for improved investing solutions.
Ramify’s development has been rapid since its launch, with assets under management increasing 20 times in just 18 months. Wealthtech now offers a broad and diverse selection of goods and services on the market.
Ramify funding plans
The integrated investment platform offers a complete wealth management solution that includes digitalisation, consulting services, and lower fees. It primarily targets French individuals with financial assets ranging from €100,000 to €5m, providing access to a diverse range of financial products, tax solutions, and premium services.
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By GlobalDataMoreover, its diverse market offerings include equities, bonds, real estate, private equity, cash, structured funds, and crowdfunding. The wealthiest investors also receive privileged amenities such as Lombard loans, Luxembourg life insurance, and art investments.
Baby boomers in Europe are predicted to provide almost €10trn to the following generation over the course of 15 years from now. More than 70% of them are looking for a new financial adviser to handle their recently purchased assets.
Digital players find it difficult to satisfy the demands of premium customers, while traditional players are stagnant in the face of these disruptions. Ramify presents itself in this context as the creative answer that can bring the benefits of digital to a customised strategy.
The Ramify team, comprised of quantitative finance researchers, developers, and financial specialists, has effectively merged finance, technology, and human skills to provide a better user experience. They use AI, automation, and novel tools to meet client needs and optimise their investments.
Olivier Herbout, co-founder and chief investment officer of Ramify, stated: “We thank our investors for their trust. The success of this funding round, achieved despite the challenging economic context for tech and particularly fintech, underscores the relevance of our value proposition. This operation marks a major milestone in the Ramify journey and will enable us to become the leading premium investment solution for the new generation of investors in France.”
Michael Sim, partner at Fidelity International Strategic Ventures, added: “Wealth management faces significant challenges in France; eroding business models and a new generation of investors demanding a personalised and accessible offering are changing the game for traditional players. We believe that the Ramify team are excellently placed to solve this problem, their impressive momentum to date paired with strong interdisciplinary backgrounds gives them an excellent footing to excel within this market.”
Michael McFadgen, co-founder, and partner at 13books concluded: “We’re thrilled to back Samy, Olivier and the team at Ramify, who are at the forefront of a major shift in wealth management. Intergenerational wealth transfer will bring major changes in the behaviour of investors and disrupt existing businesses. Their unique and comprehensive product offering is attracting a new generation of tech-savvy investors. With an exceptional team driving impressive growth Ramify is set to become the go-to investment solution for the new generation of affluent investors. We are thrilled to back them.”
