The Spanish fintech, Citec Solutions, raises a financing round of 500,000 euros

The Spanish fintech, Citec Solutionswhich uses artificial intelligence and advanced analytics for the generation, analysis and rebalancing of personalized investment portfolios, has raised a financing round of more than half a million euros, backed by Angel Investors specialized in the asset management industry.

In this way, the company, which operates in Spain and the United States, expects to end the year with a turnover of more than 1 million euros. Also, it is already working with several Online Brokers from the United States and Spain.

Citec Solutions provides solutions that cover the entire life cycle of an investment, including the optimization of the “Asset Allocation” strategy, portfolio customization, real-time analysis, risk management and rebalancing optimization taking into account the fiscal impact. In addition, these are easily integrated into third-party platforms via application programming interfaces (APIs), which significantly minimizes implementation time and development, data, and infrastructure costs.

Likewise, Citec Solutions has an investment platform aimed at institutional clients that allows the creation of customized stock portfolios using quantitative optimizations such as “Direct Indexing” or “Risk Parity”.

In this way, the company provides differential value in the wealth management industry, helping to serve a new generation of investors who demand lower commissions, more personalized solutions, analytics and real-time digital experiences, and access to more types of assets such as ETFsindex funds or direct investment in shares.

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Fernando Domecq (former McKinsey) in charge of the project

The objective of the company is to have a leading role in the transformation of the wealth management industry to serve a new generation of investors who demand different experiences.

Two years ago, Fernando Domecq, founder of the company, who occupying the role of Engagement Manager in the prestigious global strategic consultancy McKinsey & Company, detects that there is going to be a disruption in the wealth management market. In the next 10 years, more than 15 Trillion dollars will pass to a new generation with very different needs. It is then, when he decides to found this innovative company with the aim of helping the industry to adapt to this new reality.

Fernando Domecq, CEO and founder of CITEC SOLUTIONS explains that “the differential value of Citec Solutions lies in its ability to allow its clients and consumers to live fully customized experiences and in any type of scenario”.

The company also operates in the United States, where it has already woven a network of collaborations with universities such as Miami Dade, the University of Miami, Worcester Polytechnic Institute (WPI) or Wharton. In Spain, it has agreements with different university centers such as Loyola, Carlos III or CUNEF, which are using the CITEC platform to train their students in the field of portfolio management and risk analysis, being able to organize competitions inside and outside the university, with the aim of putting theory into practice.

«The sector demands personalization that, until now, was only done with very exclusive clients. This new generation of investors wants to be involved in the decision-making process and understand the where, when, how and why of each step.”highlights Fernando Domecq.

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