SpeedInvest leads Wikifolio's €6m series-B

SpeedInvest committed to the second financing round alongside existing investors VHB Ventures, Lang & Schwarz, Michael Altrichter and Michael Grabner Media. Private investors in the Austrian seed funding space also took part in the round.

The fresh capital will be used to conduct new hires and to accelerate Wikifolio's expansion into new markets outside of the German-speaking countries. Wikifolio's CEO says he plans to invest a seven-figure sum into product development each year, including a new mobile app for investors. The start-up also plans to convert to an Aktiengesellschaft – a joint stock company – this year.

According to the company's website, founder Andreas Kern owns 25.09% of shares, while VHB Digital owns 28.62%.

Previous funding
According to unquote" data, Speedinvest led a series-A funding round in Wikifolio in February 2013, alongside VHB Ventures and other business incubators. SpeedInvest's initial investment is usually €500,000.

Company
Founded in 2008, Wikifolio operates an online financial trading platform.The start-up provides a trading portal where users can find advice from trading professionals, while its IT infrastructure enables real-time processing from its partners' banks and integration with social media and online business media.

After launching online in summer 2012, investors in Germany and Austria have invested more than €190m in Wikifolio certified products, with €30m invested in January 2014.

Headquartered in Vienna, Wikifolio's 12-strong team has an additional office in Cologne. In Q1 2014, Wikifolio broke even.

People
Andreas Kern is CEO and founder of Wikifolio. Fabian von Trotha is managing director of VHB Ventures. Oliver Holle is managing director of SpeedInvest.

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