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HomeFinTechGermany Tax Fintech Ride Collects Three Million From Well-Known Founders

Germany Tax Fintech Ride Collects Three Million From Well-Known Founders

The Berlin-based fintech Ridel (website) has received three million euros in fresh capital as part of a financing round. Lea-Sophie Cramer, Verena Pausder, and the professional soccer player and former world champion Mario Goetze participated. Since the launch of Ride Capital in September 2020, around eight million euros have thus flowed into the company.

Ride helps private investors save taxes when trading securities such as shares and ETFs. For example, the online platform can be used to set up and manage an asset-managing limited liability company, which incurs significantly fewer capital gains tax than ordinary sales of securities. The model is particularly popular with wealthy entrepreneurs. Ride would also like to introduce smaller private investors (from 100,000 euros in assets) to the topic. With the fresh capital from the financing round, Ride wants to develop further into a “private bank”. For example, users can also open business accounts or invest in closed-end investment funds via the platform.

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