AXA IM Partners with Dreams
AXA Investment Managers (AXA IM) has acquired a 10% stake in Dreams , a Swedish startup offering savings and investment services to millennials.
Following the deal, AXA IM will become Dreams’ exclusive provider of investment funds/mutual funds specifically catering to millennials, and the two companies will create an innovation lab to conduct research on millennials’ savings and investment habits. The service, which is currently available in Sweden and Norway, will eventually be introduced in the German, Belgian, French, Italian, Dutch and Spanish markets.
“We are delighted to partner with Dreams, as this partnership is a first milestone in our digital strategy to open up new digital distribution channels, starting with one targeting millennials – those already investing today! We want to make investment easier for our clients. Our recent Voices survey has shown how young people require more financial knowledge. We believe that the Dreams app is helping them to better understand the value of saving and investing to achieve their goals and prepare a better tomorrow for themselves, through an innovative and easy client experience. We are looking forwards to working with Dreams to combine our strengths and digital capabilities, and to innovate and learn from each other to better serve our clients” – Global Chief Operating Officer of AXA IM, Joseph Pinto.
“Our unique Dreams method has proven its weight in the Nordic markets, where we boast 360,000 users or the equivalent of 15% of the total 20-40-year-old target group. We have achieved these figures in under two years, and proudly count women as 69% of our users. Research shows that people save €135 more with us every month than they did with their banks, proof that a customer-centric, behaviour-based approach to savings works. As we expand into the European market, we are proud to call AXA IM our partner. Their extensive knowledge, experience and expertise and rich product portfolio makes them the perfect match for our offering. These are exciting times for Dreams, and we are thrilled to offer Europeans a platform to become as successful at saving as Scandinavian Dreamers are today” – CEO of Dreams, Henrik Rosvall.