Allfunds

What Allfunds does

Allfunds Group plc is a Spain-headquartered (Alcobendas/Madrid) B2B wealthtech platform founded in 2000 that operates the largest digital ecosystem connecting fund distributors (private banks, insurance companies, wealth managers, independent financial advisors, and custodian banks) with fund houses (asset managers). As of December 2025, the platform supported €1.76 trillion in assets under administration, connected over 3,300 fund groups through more than 900 distributor contracts across 66 countries, and was operated by a workforce of 1,109 employees. Allfunds is regulated as a credit institution in multiple jurisdictions (Bank of Spain, ECB, CNMV, FCA/PRA, ACPR/AMF, MAS, FINMA, CSSF, among others) and listed on Euronext Amsterdam (AMS: ALLFG) since April 2021.

The core technology stack comprises Allfunds Connect (a SaaS-enabled subscription portal offering modular tools for dealing, execution, custody, settlement, administration, ESG, data analytics, and compliance), Allfunds Blockchain (a permissioned blockchain platform built on ConsenSys Quorum, with bridges to public Solana infrastructure via ioBuilders/Asseto for tokenized fund distribution), and the Alchelyst×Allfunds Blockchain API enabling straight-through processing for private markets. Adjacent product lines include the Alternatives platform, the 2026-launched ETF Platform, Telemetrics market intelligence, and Investment Solutions outsourcing. Revenue is generated through subscription fees for Allfunds Connect, transaction and intermediation fees on distributed AuA, and value-added services, following a "buy-free" model for core services. FY2025 net revenue was €639 million on a constant perimeter (+4.8% YoY), adjusted EBITDA margin was 67.9%, and normalised free cash flow was €247 million. Deutsche Börse Group has signed a binding agreement to acquire Allfunds for €5.3 billion (€8.80 per share), approved by 99.9% of shareholders in March 2026 and expected to close in H1 2027.

Name

Allfunds

Legal name

Allfunds Bank, S.A.U.

Website

https://allfunds.com

Company type

Public

Founded year

2000

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Allfunds is a Spain-based B2B wealthtech platform, regulated as a credit institution, that connects over 3,300 fund groups with more than 900 distributor contracts across 66 countries, supporting €1.76 trillion in assets under administration as of December 2025 through its Allfunds Connect SaaS portal and Allfunds Blockchain tokenization infrastructure.

Ownership category

akta.pro rank

Headquarters

HQ city

Alcobendas

HQ country

Spain

HQ region

Europe

Offices14 records

Markets served

GTM type

B2B

Offering type

Software

Cost components

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

Revenue model

1. Platform Subscription (Allfunds Connect): SaaS-enabled subscription portal providing access to modular digital tools for distributors and fund houses. Revenue from subscription fees for platform access.
2. Distribution/Intermediation Fees: Fees charged to fund houses based on intermediated and distributed assets under administration (AuA). This represents the core transaction-based revenue.
3. Value-Added Services: Additional services including ESG, data analytics, compliance tools, and custom digital solutions that complement core distribution services.

Go-to-market motion2 records

Distribution channels2 records

Marketing channels5 records

Core offering

Allfunds operates the world's largest B2B wealthtech platform connecting over 3,300 fund groups with more than 900 distributor contracts across 66 countries, supporting €1.76 trillion in assets under administration. Its core offering combines a "buy-free" model for trading, dealing, custody, settlement and administration with subscription-based modular tools (Allfunds Connect), proprietary blockchain infrastructure for tokenized fund distribution (Allfunds Blockchain), private markets access (Alternatives), ETF distribution, and outsourced Investment Solutions for banks, wealth managers and institutional investors.

Product overview

Allfunds operates as a leading global B2B wealth management platform providing an integrated, one-stop-shop ecosystem. The core platform is Allfunds Connect, a SaaS-enabled subscription-based portal through which Distributors (financial institutions, banks, wealth managers) and Fund Houses (asset managers) access modular digital tools. The offering combines a buy-free model for core trading, dealing, custody, settlement and administration services with fee-based Value-Added Services (VAS) including ESG, data analytics, compliance, and custom digital solutions. Key platform components include: Allfunds Blockchain for tokenized fund distribution; Telemetrics for market intelligence; Alternatives for private markets access; and the ETF Platform. The platform connects over 3,300 fund groups with more than 900 distributor contracts across 66 countries, supporting €1.76 trillion in assets under administration.

Differentiator

Problem solved

Functional benefit

Brands

• Allfunds Connect: SaaS-enabled subscription-based portal providing Distributors and Fund Houses access to modular digital tools for fund distribution
• Allfunds Blockchain
• Telemetrics
• Allfunds ETF Platform

Quantifiable outcome

• Platform service net flows of €120.6 billion in FY2025, up 18.3% YoY
• +2 more outcomes

Named customers3 records

Segments2 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration4 records

Feature4 records

Partnerships

Eleven partnerships are on record, tiered core, major and minor.

• Solana FoundationcoreTechnology or Integration · 23 June 2026Allfunds expanded its tokenized fund distribution to Solana blockchain, enabling asset managers to access new distribution channels while maintaining connectivity to institutional networks.
• ioBuilders (Asseto Platform)coreTechnology or Integration · 23 June 2026ioBuilders' Asseto platform acts as the integration layer linking Allfunds Blockchain with on-chain environments, enabling issuance and lifecycle management of tokenized funds in line with institutional requirements.
• AlchelystcoreTechnology or Integration · 8 June 2026Partnership introducing Alchelyst×Allfunds Blockchain API, an API-driven permissioned blockchain integration replacing manual transfer agency order processing with straight-through processing for private markets distribution.
• Hamilton LanecoreStrategic or Co-development Partner · 26 May 2026Hamilton Lane partnered with Allfunds Blockchain and Apex Group to launch a tokenized share class for Hamilton Lane's Global Private Assets (GPA) evergreen fund, enabling private equity exposure through blockchain technology.
• ConsenSyscoreTechnology or Integration · 14 May 2026Allfunds Blockchain partnered with ConsenSys to drive blockchain technology adoption in the financial sector, combining Allfunds Blockchain's Technical Solutions with ConsenSys Quorum enterprise Ethereum protocol to reduce processing and settlement times.
• ArdianmajorChannel Partner/ Reseller/ Distributor · 13 May 2026Ardian expanded distribution of its Access Evergreen Strategies through Allfunds and other global fund platforms including Clearstream and Euroclear Fundsplace.
• iCapitalmajorChannel Partner/ Reseller/ Distributor · 13 May 2026iCapital partnered with Ardian to distribute private markets strategies through Allfunds and other global fund platforms.
• MSCIcoreTechnology or Integration · 24 February 2026Strategic collaboration enabling Allfunds' clients to access MSCI's market-leading data and advanced analytical capabilities for identifying investment opportunities, managing risk, and complying with regulatory requirements.
• Apex GroupcoreStrategic or Co-development Partner · 10 December 2025Strategic collaboration to fully digitize the operating model for alternative investment funds utilizing blockchain technology, enhancing operational efficiency, transparency, and real-time execution.
• Web Financial GroupmajorStrategic or Co-development Partner · 31 May 2022Acquired by Allfunds for €145 million to enhance digital and data capabilities, expand market presence in Europe, and onboard 91 WebFG employees.
• instiHub Analytics LimitedminorStrategic or Co-development Partner · 29 April 2022Acquired to enhance Allfunds' data and analytics capabilities, complementing existing product range including market intelligence tool Telemetrics.

Scale indicators15 records

Recent moves7 records

Expansion highlights6 records

Emerging players

• Securitize: Tokenization platform issuing and distributing tokenized funds on public blockchains, intersecting with Allfunds Blockchain's tokenized fund distribution initiatives.
• Moonfare: Digital platform democratizing access to private-equity funds, intersecting with Allfunds' private-markets distribution ambitions for wealth clients.

Broad incumbents

• FNZ: Global wealth-management platform providing fund access, administration and technology to financial institutions, overlapping Allfunds' platform and distribution model.
• SS&C Technologies: Large provider of fund administration, transfer agency and wealth-tech software, offering overlapping fund-operations capabilities to asset managers and distributors.
• Euroclear FundsPlace: Fund order routing, settlement and distribution services within a large post-trade infrastructure group, overlapping Allfunds' core dealing/settlement and distribution offering.
• Clearstream Fund Services: Deutsche Börse's fund processing, custody and distribution unit (and the acquirer's combination partner) offering competing fund order-routing and settlement infrastructure.

Direct peers

• Calastone: Global funds transaction network connecting distributors and asset managers for order routing, settlement and dealing—directly comparable to Allfunds' fund-distribution and STP infrastructure.
• iCapital: Technology platform providing access to and distribution of alternative/private-markets funds for wealth managers, overlapping Allfunds' fast-growing Alternatives platform.
• MFEX (Euroclear): B2B mutual-fund distribution platform connecting fund houses and distributors across Europe and Asia, competing head-to-head with Allfunds in open-architecture fund distribution.

Regional players

• Hargreaves Lansdown: UK fund supermarket/investment platform distributing funds and ETFs; comparable in fund distribution but largely direct-to-consumer and UK-focused rather than B2B global.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks5 records

Key highlights6 records

Customer concentration

• Xx.com/allfundsbank
• LinkedInlinkedin.com/company/allfunds-wealthtech

Compliance11 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles13 records

Subsidiaries3 records

Funding overview

Funding rounds1 record

Investors1 record

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

M&A3 records

Investments

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

Frequently asked questions about Allfunds