The Swiss company which provides the technology behind NatWest’s robo-advice service has been given a multi-million pound investment to push into the wealth management sector.
Additiv said the CHF21m (£16.5m) investment would allow it to meet the “insatiable demand” for technology across Europe and Asia.
A spokesman for the Zurich-based company said the funding would help it to finance its international expansion in the area of wealth management, focusing on robo-advice and cloud services.
Additiv has partnered with NatWest on an ongoing basis to provide its Digital Finance Suite, which provides middle and back offices processes, for its NatWest Invest service which launched earlier this year.
Michael Stemmle, founder and chief executive of Additiv said: “Firms are in need of state-of-the-art solutions that can be implemented quickly to carve out their positions in fiercely competitive markets. That’s exactly what we provide.
“It really is crunch time for the sector and this funding allows us to be at our best when our clients need us most.”
Additiv also works with Credit Sussie, Coutts, RBS and Swisslife.
damian.fantato@ft.com
