London - November 9th, 2021
BITA, Europe’s leading technology-enabled index innovator, announces €6 million of Series A funding by ETFS Capital. The investment allows BITA to accelerate its technology rollout, add new functionalities to its all-in-one indexing platform and expand its business activity further across Europe and North America.
The passive investment ecosystem is undergoing a major transformation. As more money flows from active into passive management, the investment products and platforms of today require smart customization and innovative approaches on the provision of investment exposures. With large index providers dominating the benchmarking space, but lacking flexibility and speed, there is a big gap to be filled by new players with the ability to integrate technology and index expertise to deliver client-centric solutions.
Clients are demanding a renewed approach to indexing which goes beyond just supplying index expertise or IP licensing, it must deliver a true end-to-end technology solution. Across index design, back testing, customization, administration and governance through to calculation, the technology has to be seamless, enable greater flexibility, and innovate the way providers and clients work together. BITA’s comprehensive technology does just that and with their customer-focused approach and flexible pricing, makes them the challenger to watch in the index space.
Victor Hugo Gomez, CEO and Co-founder, BITA said: “At BITA, we have set ourselves the ambitious mission of providing the “rails and roads” where investment customization will run. From indexing platforms and solutions to portfolio customization APIs, our infrastructure will enable us, as well as our clients, to build innovative products which are better suited to the opportunities and challenges ahead. Our clients select us as their partner of choice because of our passionate commitment to their success. Thanks to ETFS Capital’s support we can now accelerate our growth and shake up the industry with our unique approach!”
Martyn James, Managing Director, ETFS Capital said: “We are constantly asked about who can challenge the big index providers’ dominance. Our investment shows that we believe it is BITA, with their tech-first approach.” He goes on to say: “Index expertise alone is not enough. What is needed for ‘scaled disruption’ is the provision of a comprehensive indexing technology solution, which has not been available to date.”
BITA is a Germany-based Fintech specialized in the provision of indexing technology and custom indexing services to institutional investors, asset managers and financial advisors. Additionally, BITA is registered as a benchmark administrator under the BMR by the German Federal Financial Supervisory Authority (BaFin).
About ETFS Capital
ETFS Capital is an investment company focused on growth opportunities across the investment ecosystem.
Created by ETF industry veterans and chaired by Graham Tuckwell, an ETF industry pioneer and founder of ETF Securities. In 2018 ETF Securities sold its European and North American asset management businesses to WisdomTree, Legal & General Investment Management and Aberdeen Standard and became ETFS Capital.
We provide more than just capital to our investee firms. By utilising our experience of building and exiting successful companies, we actively support their growth and development. Tailored to their individual needs, we also provide strategic advice, operational guidance and access to our growing network.
Today, our purpose is to discover and empower the innovation-led companies driving change, typically technology-enabled, and help them become tomorrow’s leaders.