Active Asset Allocation, first European FinTech company for assets under advisement, just closed a fundraising project which has raised nearly 4 Million euros from private and institutional investors, including MAIF Avenir, Région Sud Investissement (managed by Turenne Capital) and Allianz France through their InnovAllianz fund.
Inspired by their desire to share a long-term asset management know-how, Active Asset Allocation was founded in 2010 by Adina Grigoriu, an asset allocation expert, and Olivier Hiezely, a specialist in information systems.
Together, they innovate using a unique methodology of risk management and dynamic asset allocation, combined with simple didactic digital services: the ideal combination of “Fin” and “Tech”! Today, Adina and Olivier are surrounded by a multicultural and multidisciplinary team of 13 employees (of 7 different nationalities).
“For the last 9 years, we have been creating asset allocation models for institutional clients. Thanks to digital and Artificial Intelligence, we also now offer insurers, private banks and asset managers, tools enabling their distribution networks to sell not only financial products but also savings solutions which can be entirely customised, all 100% online.”
Adina Grigoriu, CEO and co-founder of AAA.
With more than € 2Bn in assets under advisement, Active Asset Allocation boast many large organisations among its clients: the MAIF Foundation, MAIF, Allianz France, Spirica, OFI AM, Mandarine Gestion, AG2R la Mondiale, Generali, UAF Life Patrimoine, MesPlacements.fr, Advize… as well as pension funds in the United States and the Netherlands.
“We would like to thank all those who contributed to this fundraiser, without forgetting OSEO Paris, the BPI of Nice, LCL Nice, Caisse d’Épargne Côte d’Azur, Direccte, Réseau Entreprendre, the CEEI and Métropole Nice Côte d’Azur who have also supported us financially. The funds raised will enable us to continue to innovate for our clients, continue our work in Artificial Intelligence and financial engineering and accelerate the expansion of our offers both in France and internationally. Our goal: to contribute to, support and accelerate the digital transformation of asset management.”
Olivier Hiezely, Chairman and co-founder of AAA.
MAIF contributed towards the fundraiser through its corporate venture fund MAIF Avenir.
“With this investment in AAA, we are pleased to build a value-creating partnership for the Group and our members. For several years, we have been following the asset allocation proposed by AAA for one of our portfolios. Tomorrow, this FinTech will hopefully enrich the new and innovative savings solution service we offer our members. We are delighted to be able to support the development of AAA by exercising our role of shareholder in a unique way and by placing the advantages of MAIF Group at their disposal, such as the excellence of the customer relationship”, says Milène Gréhan, Manager of the fund MAIF Avenir.
Alex Gerbaud, Senior Business Manager at Turenne Capital: “We are very pleased to be able to support Adina and Olivier in the development of Active Asset Allocation. Thanks to the know-how of the two founders, AAA proposes an asset allocation solution of excellence that has optimised the performance and monitoring of the risk level. For almost 10 years, AAA has convinced major groups of the financial sector like MAIF and Allianz to adopt their solution, enabling it to become one of the largest European FinTechs for managed funds. AAA has chosen to recruit all its technical team from Nice and our intervention will also continue this process of creating skilled jobs in Artificial Intelligence and big data in the region.”
“It is a pleasure for Allianz France to support AAA in the next stage of its development through the InnovAllianz fund, our strategic investment fund dedicated to startups. The tools developed by AAA will enable us to offer our life insurance customers a more fluid and intuitive experience.”, says Julien Martinez, Director of Strategy, Innovative Projects and Mergers & Acquisitions of Allianz France.
About Active Asset Allocation
Active Asset Allocation is an independent FinTech financial engineering company, created in 2010. Its international team comprises actuaries, researchers, financial engineers, digital engineers and artificial intelligence experts: a total of 15 experts in their field.
AAA develops investment strategies, asset allocation and asset / liability engines based on the objectives, constraints and level of risk desired by the investor. These tailor-made strategies, deployed via its digital platform, are driven daily thanks to its expertise in the management of maximum Drawdown (maximum loss).
With an activity dedicated to institutional investors and asset managers, AAA is the largest digital allocator in Europe by the volume of its assets under advisement. Today, it is the only FinTech capable of designing large-scale customised allocation solutions and distributing them via a turnkey platform.
+33 (0)493 180 297
About the investors
Created in 2015, MAIF Avenir is the venture capital fund of the MAIF Group, a dedicated insurer and leader in customer relations. With € 250 million in assets under management and 30 investments made, MAIF Avenir supports start-ups which have the ambition to develop the services and technologies of tomorrow in the Group’s areas of expertise, through an investment in capital and forging value-creating partnerships.
Sixth largest automobile insurer and leading insurer in the voluntary sector, MAIF covers the needs of more than 3 million members (for property insurance, life insurance, health insurance, assistance, savings, credit, etc.). The mutual insurance is regularly acclaimed for excellent customer relations, for which it comes first among French companies in all sectors. In 2018, the MAIF Group achieved a turnover of 3.6 billion euros.
Allianz, a global player and European leader in insurance, proposes a complete offer that covers all the insurance, assistance and financial services needs of individuals, professionals, businesses and communities alike. With nearly 140,000 employees worldwide, Allianz is present in more than 70 countries, serving 88 million customers.
A general insurer, specialist in wealth and social protection, Allianz France draws on both the wealth of its expertise and the dynamism of its 9,000 employees in France. Nearly 7,000 commercial advisors, Agents, Consultants, Brokers and Partners advise and support 5.5 million customers who trust Allianz France.
Find all the news of Allianz France on www.allianz.fr
Région Sur Investissement
Région Sud Investissement is the regional Co-investment fund created in 2010 by the Region to support the emergence and development of regional growth companies. This € 80 million SAS benefited from the support of Europe through the ERDF fund for 50% of its capital. Since July 2011, this Fund, the management of which is entrusted to the Turenne Capital Group, has already invested in 79 regional companies for a total amount of €38.7m.
More information on: www.regionsudinvestissement.com
Groupe Turenne Capital
Manager of Région Sud Investissement, the Turenne Capital Group is one of the leading private equity investors in France, and has been supporting entrepreneurs for 20 years in their projects of innovation, development and the transmission of their company. An independent management company approved by the AMF and owned by its employees, the Turenne Capital Group has more than € 1 billion under management as of December 31, 2018. Its teams, comprising 55 professionals, including 38 investors, based in Paris, Marseille, Lille (a subsidiary in partnership with Crédit Agricole Nord de France), Lyon and Metz, support more than 250 business leaders in the healthcare, hospitality, new technology and retail sectors as well as innovative services. It is a responsible investor, concerned about its ESG (Environment, Social and Governance) impact and its driving role for the companies it supports, Turenne Capital signed the PRI – principles for a responsible investment – agreement developed by the UN.