Key take away
- Strong operational growth – Evolute in 2018 recording significant customer and sales growth and runs CHF 9 bn assets on its platform
- Extraordinary General Meeting on March 6th, 2019 resolves on new investment round
- Private investors to invest a total of up to CHF 10 million in the further development of Evolute over the next three years
- Evolute aims to become the leading wealth management platform to support the digital transformation of the wealth management industry in Switzerland
Following significant customer and sales growth in 2018 and the decisions of the Extraordinary General Meeting on 6 March 2019 regarding a new financing round, a consortium of renowned investors will invest over the next three years a total of up to CHF 10 million in the further development of the digital Swiss wealth management platform Evolute. The new investments will provide certainty about Evolute’s long-term development and allow Evolute to implement its successful strategy step by step and expand its range of services and attractive business model.
2018 – An operationally successful year
In 2018, Evolute reached significant milestones, revenue grew by over 600%, reaching a CHF 1.5 million run-rate revenue. This growth is driven by its existing and new clients, among them Finaport, VT Wealth Management and LimmatWealth. Evolute currently runs a total of CHF 9 billion in assets on its platform for its 17 clients.
Last year Evolute released version 1.6 with new functions and features such as enhanced consolidated portfolio analytics, fully customized client reporting and the mobile application for instant client access.
The Evolute team plans major platform updates in 2019 with innovations such as a mobile advisory solution, managing and reporting non-bankable and crypto assets in one single portfolio view and integration of the product marketplace.
Swiss financial experts form consortium
The consortium of Swiss private investors has undertaken to invest a total of up to CHF 10 million over the next three years in the further development of the Swiss Fintech wealth management platform Evolute.
The Board of Directors remains unchanged with Michael Hartweg (Chairman and CEO ad interim), Patrick Barnert and Kathleen DeRose.
Patrick Barnert says: “The new investments will provide certainty about Evolute’s long-term development and allow us to implement Evolute’s successful strategy step by step and expand Evolute’s range of services and attractive business model in close alignment with the growing needs of banks and wealth managers”.
About Evolute Group AG
Evolute Group AG, founded in 2016, offers comprehensive technology and outsourcing solutions for wealth managers in Switzerland. Evolute currently has a total of CHF 9 billion in assets on its platform for its 17 clients. Evolute Group AG is headquartered in Zug and has offices in Zurich/Switzerland and Lviv/Ukraine.