Vantik Raises $1.6M

Berlin-based Vantik , Europe’s first retirement account which can be completed and managed entirely via one’s smartphone, has raised $1.6m in a seed round from Seedcamp, STS Ventures, Atlantic Labs, Kilian Thalhammer, and Maximilian Tayenthal, the cofounder of N26.

Founded in 2017 by Til Klein and Lara Hämmerle, Vantik allows users to open an account and start saving by monthly transfers or by one-off transfers starting at €1. The money saved will be invested in the “Vantik Fund” – a mix of stocks, bonds, real estate and commodities that targets a 3% return per year. Customers are able to withdraw their money at any time and Vantik charges a yearly service fee of 1.18% which is split among DAB BNP Paribas (account and portfolio management), Axxion (fund administration and risk management), Berenberg (depository of the fund assets), Faros (investment advisor), and Vantik (sales, customer support, and all costs of the accountant and other experts).

“Not only is Vantik the sole InsurTech in Europe with its own pension plan product, but for the first time there is a real alternative to more traditional life insurance… Today’s generation orchestrates their entire lives on their smartphone and is used to flexibility and visibility on their accounts and finances. Why shouldn’t they be able to take ownership of their pension plans on mobile too?” – Founder and CEO of Vantik and a former partner at the Boston Consulting Group, Til Klein.