Fondsdepot Bank partners FinTech Moonfare for expansion across Europe
By Joy Dumasia
Fondsdepot Bank, the liability umbrella provider in Germany, begins international expansion and, for the first time, cooperates with a financial technology company, Moonfare, a leading digital investment platform for top-tier private markets funds.
Fondsdepot Bank will provide Moonfare with regulatory support for its continued growth across Europe. As part of their agreement, the fund platform has extended its liability umbrella license to operate in select European countries where Moonfare operates.
Fondsdepot Bank has worked exclusively for institutional-grade clients, including the largest insurance companies in Germany. With Moonfare, they will include the brokerage of private equity investments in its liability umbrella and collaborate with a FinTech for the first time.
Fondsdepot Bank extends its liability umbrella license to 11 other European countries (e.g. France, Italy, Spain) to cover markets where Moonfare operates.
Fondsdepot Bank CEO Sebastian Henrichs says: “The expansion of our liability umbrella license for other European countries is a significant step for us. If our partners want to grow across Europe, we would like to accompany them in doing so. It does not make sense for a fintech platform, which operates largely via a digital application, to operate with different liability umbrella partners abroad. Due to our well-structured processes, we were able to meet the relevant regulatory requirements for the license extension without any problems.”
Moonfare Managing Director and COO Lorenz Jüngling said: “At Moonfare, adherence to financial regulation is a topic where we refuse to compromise. We may be a relatively young company, but in these areas, we hold ourselves to the same standards as the biggest asset managers, insurers and institutional investors in the world. It’s a key reason why going forward; we are excited to work with Fondsdepot Bank, the biggest liability umbrella provider in Germany and a company that shares core values with Moonfare like professionalism, experience and a bias towards growth.”