Liqid, a Berlin, Germany-based digital wealth manager, raised €33m in Series C financing.
The round was led by Toscafund Asset Management, a London-based multi-asset alternative investment management firm with over $4 billion of assets under management, with participation from existing investors Project A, HQ Trust and Dieter von Holtzbrinck Ventures.
Following the transaction, subject to customary regulatory approvals, Toscafund, through Tosca Private Investments Fund, a new specialist vehicle targeting small/mid-market private equity opportunities in the European financial services sector, will become a significant shareholder in Liqid.
The company is using the funds to continue to expand operations.
Established in 2016 by Christian Schneider-Sickert, CEO, Liqid provides a digital alternative to traditional private banks, offering discretionary wealth management and access to alternative investment opportunities in partnership with HQ Trust, the multi-family office of the Harald Quandt family.
In less than two years, the company has attracted close to €300 million in client assets.
Liqid was advised by Rothschild & Co. TPIF was advised by Herax Partners.