Cometum

What Cometum does

Cometum GmbH is a Munich-based, founder-led digital investment manager founded in 2020 by Sascha Miller (CEO) and Uwe Passmann (CIO). It targets professional investors in Germany with minimum investable wealth of EUR 500,000, offering access to private-market assets — Pre-IPO/Growth Equity (SpaceX, Klarna, Kraken), Private Equity funds, Private Credit, Real Estate Debt — plus tangible alternatives (classic cars, art, diamonds, fine wine) that are normally inaccessible below institutional ticket sizes.

The platform's core technology is a blockchain-based tokenization stack built on Distributed Ledger Technology and smart contracts. Physical and financial assets are acquired by German-law Special Purpose Vehicles structured as GmbH & Co. KG entities, which then issue BaFin-compliant subordinated debt securities (Schuldverschreibungen) represented as digital tokens. This fractionalizes high-value assets (e.g., a EUR 1.2M classic car) into units purchasable from EUR 1,000, and is paired with an internal secondary market for token trading. Banking and custody infrastructure is provided through a Solaris Bank partnership, while subscription execution is routed through licensed intermediary Concedus.

Cometum's revenue model is purely transaction-based and consists of three percentage-of-investment fees disclosed up-front: an Agio (issuance surcharge) financing sourcing and storage costs, a one-time Structuring Fee, and a Brokerage/Mediation Fee. Distribution is digital-first and sales-assisted: a waitlist (Typeform), educational blog, organic social (LinkedIn, Instagram, X), earned media in German financial press, and a Calendly consultation funnel route prospects to the self-service platform. The company has two operating SPV subsidiaries (COMETUM Classic Cars and Cometum Art) and operates with a 1–10 person team on ~USD 470K of disclosed seed funding raised across two 2022 closes.

Name

Cometum

Legal name

Cometum GmbH

Website

https://cometum.com

Company type

Private

Founded year

2020

Operating status

Operating

Headcount range

1–10 employees

Short description

Cometum is a Munich-based digital investment manager that tokenizes private-market and tangible assets via German SPVs into BaFin-compliant securities, giving professional investors EUR 1,000 entry-point access to Pre-IPO, PE, and collectibles.

Ownership category

akta.pro rank

Headquarters

HQ city

Munich

HQ country

Germany

HQ region

Europe

Offices2 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure

Revenue model

1. Agio (Ausgabeaufschlag): One-time issuance surcharge at investment, financing initial costs for sourcing, assessment, transport, and storage of assets. Calculated as percentage of investment amount.
2. Structuring Fee: One-time fee for structuring tokenized securities to make assets investable. Percentage-based fee tied to investment amount.
3. Brokerage/Mediation Fee: Fee for distribution/marketing of securities. Percentage-based on investment amount. All costs transparently displayed before investment.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels7 records

Core offering

Cometum is a digital investment manager that issues tokenized subordinated debt securities backed by private market assets through German SPV structures (GmbH & Co. KG), enabling professional investors to access Pre-IPO opportunities, Private Equity, Private Credit, Real Estate Debt, and alternative tangible assets (classic cars, art, diamonds, fine wine) with a EUR 1,000 minimum investment. Each token represents fractional ownership of an underlying asset, with an internal secondary market enabling trading.

Product overview

COMETUM is a digital investment manager for Private Market Assets, offering a platform that provides simplified access to private and institutional investors seeking exposure to non-publicly traded investment opportunities. The core platform enables investments starting at EUR 1,000 through tokenized securities structured as GmbH & Co. KG special purpose vehicles. The product portfolio includes Growth Equity offerings (SpaceX, Klarna Pre-IPO, Kraken Pre-IPO), Private Equity funds across Small-Cap/Mid-Cap/Large-Cap categories, Private Credit, Real Estate Debt, and alternative investments via sub-brands COMETUM Classic Cars and COMETUM Art. All offerings utilize blockchain technology for fractional ownership and are issued as BaFin-compliant German financial instruments. The company operates through regulated partner banks and targets professional investors with minimum investment of EUR 500,000 per investment.

Differentiator

Problem solved

Functional benefit

Products and services

• COMETUM Platform Digital investment management platform providing professional investors with tokenized access to private market assets (Pre-IPO, Private Equity, Private Credit, Real Estate Debt, alternative tangibles), with EUR 1,000 minimum investment and an internal secondary market for token liquidity.
• SpaceX Growth Equity Tokenized Pre-IPO investment product providing indirect exposure to SpaceX common stock via a Cometum SPV structure, for qualified professional investors.
• Klarna Pre-IPO Tokenized Pre-IPO investment product in Klarna common stock via a Cometum SPV structure, targeting professional investors seeking exposure before Klarna's planned stock market listing.
• Kraken Pre-IPO Bond Tokenized bond (COMETUM Kraken-Anleihe) providing qualified investors indirect exposure to Kraken common stock ahead of the cryptocurrency exchange's potential IPO.
• Private Equity Funds Tokenized equity investments in non-publicly listed companies, offering exposure to Small-Cap, Mid-Cap, and Large-Cap Private Equity funds with EUR 1,000 minimum investment.
• Private Credit Tokenized private debt investment products providing professional investors with access to private credit markets for portfolio diversification.
• Real Estate Debt Tokenized real estate debt investment product providing professional investors with direct access to real estate debt within the private market portfolio.
• Porsche 911E Matching Numbers (1972) Tokenized Bond Tokenized debt security backed by a 1972 Porsche 911E Matching Numbers, enabling professional investors fractional ownership of a classic car from EUR 1,000.
• Diamant C/1743 X1 2,01 Karat Tokenized Bond Tokenized debt security backed by a 2.01-carat C/1743 X1 diamond, enabling fractional ownership of a luxury gemstone asset from EUR 1,000.
• Champagner Ruinart Brut MAGNUM 1,5L Tokenized Bond Tokenized debt security backed by Ruinart Brut Champagne in Magnum 1.5L bottles, enabling fractional ownership of fine wine assets from EUR 1,000.

Quantifiable outcome

• 2.2x long-term average money multiple in Private Equity vs. MSCI World Index
• +2 more outcomes

Segments1 record

Ideal customer profiles1 record

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Scale indicators4 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• Liqid: Liqid is a German digital wealth platform offering semi-liquid and private-market investment funds (private equity, private debt, real estate) to professional and institutional investors. It is the closest direct competitor to Cometum in the DACH professional-investor private-markets segment, sharing the same target customer, regulated distribution architecture, and focus on lower ticket sizes than legacy private banks.
• Upvest: Upvest provides API-based infrastructure for tokenized securities and fund issuance in Europe, regulated by BaFin. It is a directly comparable tokenization-and-distribution technology peer targeting financial institutions, complementing Cometum's consumer-facing SPV-tokenization model with an infrastructure layer used by issuers.
• Bitpanda: Bitpanda is an Austrian-headquartered European retail investment platform offering stocks, ETFs, crypto and digital assets with low minimums. It is directly comparable to Cometum in democratizing previously institutional-grade assets, though Bitpanda's broader catalog is heavier on liquid crypto/ETFs vs. Cometum's private-market SPV offerings.
• Tangible: Tangible is a German/European platform that tokenizes real estate and other physical assets (fine wine, art) into fractional digital shares for retail and professional investors. It is a directly comparable alternative-asset tokenization peer targeting similar investors with similar product mix to Cometum's classic-car/art/wine tokenized bonds.

Regional players

• Scalable Capital: Scalable Capital is a leading German/European broker and robo-advisor offering brokerage, ETF savings plans and trading via mobile app. Co-Founder Uwe Passmann previously served as Head of Sales, making Scalable a directly comparable German investment-platform peer — though Cometum competes on private-market/alternative-asset depth rather than liquid securities execution.
• Trade Republic: Trade Republic is a leading German/European mobile-first broker with banking license via Solaris SE, offering stocks, ETFs, derivatives and savings plans. It competes with Cometum in the German retail-investor segment with overlapping Solaris Bank infrastructure, though Trade Republic focuses on public-market execution while Cometum focuses on private-market tokenization.

Emerging players

• Securitize: Securitize is a US-headquartered regulated platform for issuing and managing digital securities (tokenized equity, debt, funds) with on-chain compliance. It is comparable to Cometum as a tokenized-securities issuance and distribution competitor, though broader in scope and global in footprint rather than DACH-focused.
• MoonPay: MoonPay operates a global payments and tokenization infrastructure for digital assets, including NFT and tokenized securities rails. It is an adjacent peer to Cometum in the digital-asset infrastructure stack with overlapping tokenization technology, though it serves different customer segments (global crypto onramp vs. DACH private-market investors).
• 21X: 21X is a EU-regulated trading and settlement venue for tokenized securities and digital assets under DLT Pilot Regime. It is comparable to Cometum's secondary-market trading ambition for tokenized private-market securities, providing a comparable regulated venue where Cometum-issued tokens could potentially be listed.
• Reimann Investors: Reimann Investors (formerly Deutsche Kontor Privatbank) is a German wealth-management and private-banking firm offering wealth structuring and capital investment to affluent and HNW clients. Co-Founder Uwe Passmann previously worked there, making it a closely comparable traditional private-banking peer serving the same German professional-investor segment that Cometum now targets digitally.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/CometumBank
• LinkedInlinkedin.com/company/35624775
• Instagraminstagram.com/cometumofficial

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Funding overview

Funding rounds2 records

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Cometum