By Ryan Weeks on 10th July 2017
Fidor Bank will offer users access to two fintech-based investment channels.
Fidor Bank, a digital bank with over 100,000 users across Germany and UK, has announced the first partner platforms in its digital marketplace. Equity crowdfunding platform Seedrs and robo-advisor Nutmeg have each joined the marketplace, with more partners set to be announced in the coming months.
Fidor became an early-mover in the digital banking space when it launched in the UK in 2015. Its digital marketplace serves to signpost users to innovative investment channels.
Nutmeg is a robo-advisor which helps users to build and manage portfolios, ISAs and pensions online. Investments made via the platform are regularly reviewed to ensure the ongoing suitability of investor portfolios, in accordance with their investment goals and risk profile. Nutmeg invests money via exchange-traded funds, which track the movements of various indices.
Seedrs is one of the best-known equity crowdfunders in the UK. The firm claims to have facilitated more than £220m in investment to date, the majority of which is comprised of early-stage investment.
“We are pleased to welcome Seedrs and Nutmeg into our fintech marketplace as our investment providers,” said Katharina Rausch, head of FinanceBay, Fidor’s fintech marketplace. “Fidor has long welcomed affluent and financially curious customers to our digital bank and based on their investment appetites we have built an exciting suite of investment products made accessible to customers via a handful of carefully curated fintech partners.”
Fintech marketplaces of the kind being built by Fidor Bank are increasingly common within the high-growth digital banking sector. Revolut, for example, has a “wealth” tab on its app, although it is yet to announce partners. Starling Bank announced a partnership with savings and investment app Moneybox in April.
Fidor claims to be Europe’s original fintech bank, founded in 2009 by CEO Matthias Kroener. The company operates on an indirect agency banking membership in the UK under a European Passport Banking License.
AltFi is returning to Amsterdam for its second annual Summit in the city. The inaugural event last year was a roaring success, with key figures from across Continental Europe's alternative finance and digital banking sectors highlighted. These included Jeroen Broekema, managing director of Funding Circle Netherlands, and Mieke van Engelen, head of innovative partnerships at ABN AMRO's standalone lending platform, New10.