The most prominent Spanish fintech by volume, Neobank MyInvestor, has reached €2 billion in only two months. This is an incredible 169% growth from March’s total of 1B euros! With this new record high and nearly 538 million clients served so far (including investments), they are here to stay as Spain’s top financial firm at least for now.
The digital bank, which has Andbank España, El Corte Inglés Seguros and AXA España among its shareholders, has undergone record growth through strong inflows of funds to investment products, especially indexed plans and funds, and the robo-advisor (discretionary managed indexed portfolios). In this regard, the neobank has redoubled its commitment to international funds with the recent incorporation of Vanguard’s range of actively managed funds, becoming the first institution to market this range from the US investment management company in Spain. MyInvestor also maintains its leading position in passive management in Spain, offering indexed funds with the market’s most competitive conditions, with funds in that regard from Vanguard, as well as from iShares and Amundi.
MyInvestor’s track record in the Spanish market is endorsed by various awards, including from investment portal Rankia for Best Variable Mortgage and Best Fund Marketer and the title of the most innovative start-up in the fintech category in the third edition of the Expansión Start Up Awards.
A commitment to real estate crowdfunding with Urbanitae
At a time of exponential growth, MyInvestor is also committing to continuing to offer solutions and becoming a marketplace for investment products where customers can access the market’s best products with the best conditions and the convenience of having their investments integrated on the same platform.
As a result, MyInvestor has become the first European fintech to allow its customers to directly invest in the real estate sector, through an alliance with crowdfunding platform Urbanitae. Customers will have the option of investing in real estate financing operations of between 500 and 5,000 euros per project, via the digital bank’s website or app, with a target return that could reach 30% within a period of 26 months.
MyInvestor has also been the first player to offer Lombard loans to invest in their products at a very competitive price. MyInvestor democratises investment solutions, as this is a service that has been traditionally targeted to private banking clients.
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