Ramify receives 11 million euros in Series A financing

June 19, 2024

Ramify receives 11 million euros in Series A financing. Source: Shutterstock.

Financial advisory and wealth management platform Ramify has announced a Series A funding round of €11 million ($11.8 million).

The round was led by 13books Capital with participation from AG2R, Crédit Agricole, Newfund and Fidelity International Strategic Ventures.

The funding will enable Ramify to expand faster and establish itself as a preferred investment option for France’s newest class of wealthy investors.

Olivier Herbout and Samy Ouardini founded Ramify in 2021 to simplify the use of multi-product wealth management and meet the changing needs of clients looking for enhanced investment solutions.

Ramify has grown rapidly since its launch, with assets under management increasing twenty-fold in just 18 months. Wealthtech now offers a wide and diverse range of goods and services on the market.

Ramify Financing Plans

The integrated investment platform offers a complete wealth management solution that includes digitalization, advisory services and lower fees. It is primarily aimed at French individuals with assets ranging from 100,000 to 5 million euros and offers access to a wide range of financial products, tax solutions and premium services.

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In addition, the diverse market offering includes stocks, bonds, real estate, private equity, cash, structured funds and crowdfunding. The wealthiest investors also receive privileged amenities such as Lombard loans, Luxembourg life insurance and art investments.

Baby boomers in Europe are expected to leave nearly €10 trillion to the next generation over the next 15 years, and more than 70% of them are looking for a new financial advisor to manage their recently acquired wealth.

Digital players are struggling to meet the demands of premium customers, while traditional players are stagnating in the face of these disruptions. Ramify presents itself as a creative response that can incorporate the benefits of digitalization into a tailor-made strategy.

The Ramify team, consisting of quantitative finance researchers, developers and financial specialists, has effectively merged financial, technology and human skills to provide a better user experience. They use AI, automation and novel tools to meet client needs and optimize their investments.

Olivier Herbout, co-founder and Chief Investment Officer of Ramify, said: “We thank our investors for their trust. The success of this financing round, achieved despite the difficult economic environment for technology and fintech in particular, underlines the relevance of our value proposition. This transaction represents an important milestone in the development of Ramify and will enable us to become the leading premium investment solution for the new generation of investors in France.”

Michael Sim, Partner at Fidelity International Strategic Ventures, added: “Wealth management is facing major challenges in France. Eroding business models and a new generation of investors demanding a personalized and accessible offering are changing the game for traditional players. We believe the Ramify team is uniquely positioned to solve this problem. Their impressive momentum to date coupled with a strong interdisciplinary background puts them in an excellent position to succeed in this market.”

Michael McFadgen, Co-Founder and Partner at 13books, concluded: “We are excited to support Samy, Olivier and the team at Ramify as they lead a major shift in wealth management. Intergenerational wealth transfer will bring major changes in investor behavior and disrupt existing businesses. Their unique and comprehensive product offering attracts a new generation of tech-savvy investors. With an exceptional team driving impressive growth, Ramify will become the investment solution of choice for the new generation of wealthy investors. We are excited to support them.”