Assetmax and Avaloq enter into a strategic partnership with the aim to innovate digital solutions for banks by optimising synergies between Assetmax’s market-leading multi-custody platform and Avaloq’s next generation ecosystem. As part of the deal, Avaloq Ventures buys a minor stake in Assetmax AG.
Founded in 2013, Zurich-based Assetmax AG is among the fastest-growing companies in the Swiss service sector for independent asset managers. It offers its clients an integrated platform with several functionality modules covering regulation and compliance, multi-custody portfolio management, reporting as well as fees and profitability.
Avaloq acquired the minority stake in Assetmax through its venture capital arm called “Avaloq Ventures”. This is the first investment made by Avaloq Ventures since the vehicle was launched as it leverages on Avaloq’s long-standing expertise in the global fintech sector and the group’s new open banking marketplace called “Avaloq.one Ecosystem”. For Assetmax, the deal marks the entrance of yet another prominent investor, which will help to achieve the company’s ambitious growth plans. Financial terms of the transaction are not being disclosed.
Massimo Ferrari, CEO of Assetmax said: “Multi-custody solutions have been classically offered to serve independent asset managers’ needs. Today, banks are rediscovering the benefit of accessing external custodian data to provide better or new services to their private or institutional clients. Assetmax offers one of the most efficient and complete selections of custodian interfaces for the Swiss wealth management market. We firmly believe that our partnership with Avaloq will help us in providing our clients with the best possible solutions to respond to these needs and to unlock further growth potential.”
Alexander Christen, Managing Partner at Avaloq Ventures, said: “We are very pleased to announce our partnership with Assetmax and we are looking forward to growing our fintech portfolio in the coming months through Avaloq.one Ecosystem. We are aiming to identify and support digital leaders with the greatest growth potential. Through our investment in Assetmax we are partnering with a company which matches this descripition to the point.”