French Firm Anaxago Enters Wealth Management in Quest to Become 100% Digital Private Bank
Anaxago is a FinTech firm located in Paris, France. Starting as a crowdfunding platform in 2012, the company has seen notable success and has now announced a wealth management offering, Anaxago Patrimony. As a move towards a 100% digital private bank, Anaxago aims to facilitate €1 billion worth of investments by the close of 2022.
How Anaxago has Grown as a Digital FinTech Platform
Back in 2012, Paris-based FinTech firm Anaxago launched an equity crowdfunding platform. After seeing initial success, including profits in just the first year, Anaxago moved to offer real estate investments just two years later in 2014.
Four years after that, in 2018, the firm created Anaxago Capital, an asset management firm. The company’s track record, especially with a such a short timeline, has caught notable attention.
Since 2012, Anaxago has established a community of over 90,000 investors. Throughout the year 2019, the company facilitated €65 million worth of investments.
Now, the firm has announced a wealth management offering, named Anaxago Patrimony. By breaking into wealth management, the company aims to become a next-generation private bank.
Anaxago co-founder and Anaxago Capital CEO Joachim Dupont said,
“We are pleased to have successfully carried out our innovation and diversification strategy allowing us to support our investors at each stage of the management of their wealth. The steady enhancement of our investment offering puts us into a unique position in private banking with a 100% digital offering, accessible to the greatest number, and combining impact and performance.”
The French government has seemingly supported the integration of finance with the digital world. For example, in 2019 the French Digital Asset Association was formed to facilitate legal asset tokenization throughout the country.
In the same year, France removed taxes on crypto-to-crypto trades and a luxury property located in France — worth €6.5 million — was tokenized on Ethereum. The real estate deal made the first substantial headline regarding France and security tokens. With such an atmosphere, it only seems plausible that Anaxago’s vision to establish a 100% digital private bank, with alternative assets at the forefront, has legitimate potential.
Anaxago Wealth Management Explained
Already, Anaxago operates an online investment platform where users can invest in real estate developments and growth SMEs starting at €1,000. The company also offers a number of funds managed by Anaxago Capital. And now, through Anaxago Patrimony, the company will offer services related to wealth management advice, starting from €200,000 in disposable assets.
Through Anaxago Patrimony, investors will be provided with a number of new services. They’ll be able to access venture capital and real estate development funds, private debt, and real estate property.
Investors will also be provided with advice related to personalized investment strategies, wealth assessment, and wealth planning. A number of support tools will also be available, some of which will be capable of simulating investments under specific scenarios.
In terms of looking to the future, Anaxago has announced a bold vision. By the end of 2022, the company wants to facilitate at least €1 billion worth of investments. To date, the company has facilitated almost €200 million since the platform was established in 2012.
Anaxago co-founder and chairwoman Caroline Lamaud said,
“Trust is one of our core values. While being a Fintech, we have always sought to build trust through customer care and human relationships with our investors. Anaxago Patrimony will enable us to strengthen these relationships and make them more sustainable.”
What do you think about Anaxago entering wealth management and becoming a private bank with a 100% digital offering? Is the future of banking digital? We want to know what you think in the comments section below.
Image courtesy of Real Estech.