Equity Story
Private Markets – Our "Home Turf"
Private Markets are among the fastest-growing segments of the global capital market - according to S&P Global Market Intelligence, their volume is expected to exceed USD 15 trillion by 2025 and is even projected to surpass USD 18 trillion by 2027¹. Furthermore, the market for tokenized securities is expected to grow from USD 600 billion in 2024 to nearly USD 11 trillion by 2030 - corresponding to an average annual growth rate of over 60 percent². In addition to institutional investors, the demand from private investors is also rising significantly. This creates a concrete need for platforms that connect qualified issuers with regulated trading partners - enabling both private and professional investors to access tokenized Private Market-Investments. FINEXITY has been actively shaping this market since 2018.
Unlocking growth opportunities in Private Markets
FINEXITY operates one of the leading trading platforms for tokenized securities and connects issuers with regulated trading partners. This gives investors - whether private or institutional - efficient and simple access to Private Market-Investments such as Private Equity, Private Credit, real estate, infrastructure, renewable energy, and collectibles. The FINEXITY platform enables both primary placement and secondary market trading. Credit and securities institutions are fully integrated via SaaS solutions. Customers include both Sparkassen and Volksbanken.
The FINEXITY Group is structured into two business units:
● Capital Markets team - responsible for economic advisory, structuring, and placement of tokenized issuances to private as well as professional and institutional investors.
● Exchange team - operating a proprietary technical infrastructure for the entire value chain of tokenized securities transactions: from listing to trading to settlement - including enterprise and SMB SaaS solutions for financial service providers.
Together, they form a unique, technology-driven ecosystem for digital Private Market-Investments. Today, more than 250 tokenized securities from over 50 international issuers are listed via our platform. 84,000³;⁵ investors have indirect access to the listed tokenized securities. The integrated platform infrastructure has proven itself in practice and forms the foundation for establishing FINEXITY as a leading trading venue for digital assets.
The FINEXITY Group is internationally present with locations in Hamburg, Zurich, Liechtenstein, Abu Dhabi, and Dubai. Issuances come from Germany, Switzerland, the United Kingdom, the USA, and the United Arab Emirates. The investor base is largely composed of Germany and Switzerland. Strategic partnerships also provide FINEXITY access to professional investors in the Gulf region.
Growth drivers of the FINEXITY Group
FINEXITY’s structured growth strategy is based on three pillars:
1. Inorganic Growth
Through targeted acquisitions of complementary companies, we strengthen our platform along the entire value chain. Examples include the acquisition of Crowdli AG at the beginning of 2025 as well as the planned acquisition of 90.10 % of Effecta GmbH (still subject to the successful completion of the ownership control procedure).
The integration of FINEXITY and Effecta creates a powerful ecosystem that opens cross-platform offering and investment opportunities for customers and partners. Both companies combine their competencies in the areas of investment, regulatory infrastructure, and digital settlement, thereby creating a broad network of access to securities registries and payment service providers.
The integration of Effecta also generates significant synergies:
● Infrastructure: Merger of two high-performance investment infrastructures
● Distribution: Access to over 45 Tied Agents
● Revenue: Scaling through new revenue streams and broader product offerings
Our focus remains on technology-driven companies that sustainably strengthen our position as a leading platform for the trading and settlement of tokenized securities.
2. Exchange and SaaS - Scalable revenue models
The Exchange unit is the central growth driver. In 2025, we will apply for the EU-wide DLT TSS license, which enables all pre-trade, trade, and post-trade services in real time. This will transform our current OTC platform into a fully regulated and highly scalable Multilateral Trading Facility (MTF) - with clear benefits for institutional investors: higher market transparency, regulatory certainty, standardized processes, and therefore more liquidity.
Through real-time settlement (T+0), smart contract automation, and reduction of intermediaries, studies indicate potential cost savings of over €4 billion⁴ in the global settlement process - a lever for profitability and market penetration.
In parallel, we are consistently expanding our SaaS business:
● Enterprise SaaS: already in use at credit institutions and/or their subsidiaries
● SMB SaaS: expansion for asset managers and investment advisors
This model generates recurring, predictable revenue (Recurring Revenues) and leads to higher valuation multiples in the capital market.
Germany alone offers enormous potential: with over 1,400 credit institutions and around €9 trillion in financial assets, we address a market in which demand for Private Market-Investments is steadily growing - and which FINEXITY will comprehensively serve in the future.
3. InternationalExpansion - Focus on our Capital Markets business unit
The UAE form the strategic foundation of our global expansion in the Capital Markets business. Through our local presence, we gain access to the Gulf region, one of the fastest-growing markets for technology-driven financial innovations and Private Market-Investments.
Key points of our UAE strategy:
● Access to wealthy investors, institutional capital providers, and family offices: establishing long-term relationships with key players in the region
● Development and distribution of Private Market funds: professional investors are provided indirect exposure to tokenized securities through the funds. The funds are intended to act as professional investors on the FINEXITY OTC trading venue in the long term.
Through these activities, FINEXITY not only strengthens its regional market presence but simultaneously lays the foundation for a globally connected trading platform that provides professional investors worldwide access to innovative Private Market products.
Financial Strength & Capital Market Focus
In fiscal year 2024, the FINEXITY Group achieved pro-forma revenue of over €6.7 million⁵. Since 2018, more than €25 million in growth capital has been raised from business angels, strategic investors, and venture capital. With the listing on the Munich Stock Exchange, FINEXITY aims to internationalize its capital market activities, further expand its trading infrastructure together with qualified partners, and vertically as well as horizontally extend the value chain - including through inorganic growth.
Commitment of Management and Investors
The shares directly held by the management board, as well as those held via controlled entities, are subject to a lock-up obligation of 30 months until 4 March 2028. In addition, strategic investors, business angels, and venture capital firms have committed the majority of their holdings to a lock-up period of 24 months.
These agreements reflect a clear alignment and confidence in FINEXITY’s long-term business model and underscore the commitment of management and strategic investors.
References / Disclaimer
1 Private Markets - A Growing, Alternative Asset Class - S&P Global Market Intelligence (2025)
2 Tokenization: 2024 Marks an Acceleration in Digital Assets - FERI Cognitive Finance Institute (05/2024)
3 On a pro-forma basis, of the total 84,000 registered users, 14,000 are attributed to the FINEXITY Group and 70,000 to Effecta GmbH.
4 Tokenization: The future of financial markets? - Roland Berger (12/2021)
5 On a pro-forma basis, of the total €6.7 million revenue, €3.0 million is attributed to the FINEXITY Group and €3.7 million to Effecta GmbH. The financial figures presented in this Equity Story - insofar as they relate to FINEXITY without Effecta GmbH - are unaudited consolidated numbers from the issuer’s accounting system. Where figures are presented pro-forma or including Effecta GmbH, they represent a hypothetical scenario as if the ongoing acquisition of a stake in Effecta GmbH (still subject to the ownership control procedure) had been effective as of 1 January 2024. Effecta GmbH was consolidated at 100% of its revenue; the minority shareholder’s profit share (9.90%) is presented as Non-Controlling Interest. All internal revenues between the FINEXITY Group, Effecta GmbH, and the 100% subsidiary Finexity Invest GmbH were eliminated to avoid double-counting.