Toscafund leads €25m round for Elinvar

The round remains subject to approval from the German Federal Financial Supervisory Authority (BaFin).

Existing investors Ampega Asset Management, fintech software platform Finleap and Goldman Sachs Growth also participated in the round, the company said in a statement.

Elinvar intends to invest the fresh capital in its expansion, which will include the further development of its software in order to provide more customisation options for users.

Previous funding
Ampega backed a seed round for Elinvar in October 2016.

Ampega also invested in Elinvar's next funding round in May 2019, which saw Goldman Sachs Growth join the company's shareholder base. Finleap also participated in the round.

Company
Founded in 2016 and headquartered in Berlin, Elinvar is a software platform that helps financial organisations to digitalise their business. The company employs 100 people and has an additional office in Magdeburg.

People
Toscafund – George Koulouris, Fabrizio Cesario (partners).
Elinvar – Christoph Bartz (CEO, co-founder).

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• Topics
• Expansion
• DACH
• Technology
• Venture
• Germany
• Goldman Sachs