Whitebox

What Whitebox does

Whitebox GmbH is a BaFin-regulated German digital wealth manager (robo-advisor) founded in 2015 in Freiburg, operating independently of any bank or financial conglomerate. The company offers automated portfolio management services to German retail investors through five core ETF-based strategies: Whitebox Global and Global Green (passively managed, GDP-weighted global portfolios covering 8,500+ companies and bonds), Whitebox Value and Value Green (actively managed strategies targeting undervalued assets, with Green variants applying strict ESG screening), and the Whitebox ZinsPortfolio (money market and short-term bond strategy). The firm also plans to launch an Altersvorsorgedepot (retirement savings depot) in 2027 and operates sub-brands Wealth BASIS (≤10 ETFs, lower cost) and Wealth PRO (10+ ETFs, granular thematic management).

The platform is built on a hybrid human-machine architecture: algorithms perform continuous deviation-based portfolio rebalancing while personal advisors (available weekdays 9-19) provide customer service included in the fee. Technology stack includes AWS hosting (Frankfurt region), IDNow for video-based identity verification, HubSpot CRM with AI-assisted email drafting, and a Swiss support entity for ancillary services. Banking and custody are outsourced to flatexDEGIRO Bank SE, with customer securities held as segregated assets.

Whitebox generates revenue exclusively through tiered AUM-based annual fees, ranging from 0.35% p.a. (Global, flat; and large portfolios across all strategies) up to 0.95% p.a. (smaller Value/Value Green portfolios), with no entry fees, exit fees, or performance fees. The all-inclusive fee covers portfolio management, account/depot administration, and securities transactions. Underlying ETF product costs average 0.21-0.24% p.a. depending on strategy. Customer acquisition is predominantly digital through content marketing (Magazin, newsletter, video explainers), SEO, referral, and affiliate programs, supported by self-serve onboarding starting at €25 minimums (Global) or €5,000 (Value).

Name

Whitebox

Legal name

Whitebox GmbH

Website

https://whitebox.eu

Company type

Private

Founded year

2015

Operating status

Operating

Headcount range

11–50 employees

Short description

Whitebox is a BaFin-regulated German digital wealth manager offering automated ETF portfolio management to retail investors via five strategies (Global, Value, ZinsPortfolio, plus ESG variants), earning tiered AUM-based fees on independently managed accounts.

Ownership category

akta.pro rank

Headquarters

HQ city

Freiburg

HQ country

Germany

HQ region

Europe

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

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

Revenue model

1. Portfolio Management Fees: Whitebox charges a flat annual fee (Pauschalgebühr) based on invested assets under management. The fee is tiered by portfolio size, ranging from 0.95% p.a. (for portfolios starting at €5,000) down to 0.35% p.a. (for portfolios above €500,000). The fee is all-inclusive, covering portfolio management, account/depot administration, and all securities transactions. No entry fees, exit fees, or performance fees are charged.

Pricing tiers

Go-to-market motion4 records

Distribution channels4 records

Marketing channels7 records

Core offering

Whitebox is a German BaFin-licensed digital wealth manager (Robo Advisor) that delivers automated, ETF-based portfolio management to German retail investors across multiple strategies (Global, Value, ZinsPortfolio and their ESG 'Green' variants). The service combines proprietary algorithmic rebalancing and a unique GDP-weighted global allocation approach with personal customer advisor support, offered via web and mobile platforms with full digital onboarding including video chat identification.

Product overview

Whitebox is a digital wealth management (Robo Advisor) platform offering five distinct investment strategies with two portfolio tiers (BASIS and PRO). The core offerings include: Whitebox Global and Global Green (passively managed, GDP-weighted global portfolios for broad diversification), Whitebox Value and Value Green (actively managed value-investing strategies focusing on undervalued assets), and the ZinsPortfolio (interest/money market strategy). An Altersvorsorgedepot (retirement depot) is planned for 2027. Users can choose between BASIS portfolios (up to 10 ETFs, lower cost) and PRO portfolios (more than 10 ETFs, more granular management). All strategies support flexible savings and withdrawal plans starting from €25/month with no minimum investment duration or cancellation periods. The platform provides 24/7 automated management with human oversight and personal customer service support.

Differentiator

Problem solved

Functional benefit

Brands

• Whitebox Wealth BASIS: Entry-level portfolio management using up to 10 ETFs with lower management fees
• Whitebox Wealth PRO

Products and services

• Whitebox Global Passively managed global investment strategy that weights regions by their share of global economic output (GDP) rather than market capitalization, providing broader diversification and reduced concentration risk. Implemented with ETFs covering 8,500+ companies and bonds. Available with a flat 0.35% p.a. all-inclusive management fee and a minimum investment of €25.
• Whitebox Global Green Sustainable version of the Global strategy that applies strict ESG criteria to portfolio construction, investing globally with GDP weighting while incorporating sustainability standards and ESG screening.
• Whitebox Value Actively managed portfolio focusing on undervalued asset classes ('bargains with potential'), using comprehensive analysis to identify undervalued sectors and regions with long-term growth potential. Implemented with cost-effective ETFs and tiered annual fees from 0.95% to 0.35% p.a. (minimum €5,000).
• Whitebox Value Green Sustainable version of the Value strategy combining value investing principles with strict ESG screening, excluding controversial business areas like tobacco or defense and focusing on the most sustainable companies in each sector.
• Whitebox ZinsPortfolio Interest-focused strategy that automatically and cost-effectively invests in money market funds and short-term bonds to capitalize on current interest rates, providing high liquidity and maximum flexibility for conservative investors seeking better returns than savings accounts.

Quantifiable outcome

• 6.4% expected annual return at highest risk level for Global strategy
• +4 more outcomes

Segments4 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration4 records

AI capability6 records

Feature3 records

Partnerships

Nine partnerships are on record, tiered core, supporting, infrastructure and minor.

• flatexDEGIRO Bank SEcoreOthersWhitebox partners with flatexDEGIRO Bank SE (Rotfeder-Ring 7, 60327 Frankfurt am Main) for account and depot services. Customer funds are held at this partner bank, with securities held as segregated assets.
• IDNow GmbHcoreTechnology or IntegrationIDNow provides video chat identification services for the digital account opening process, enabling Whitebox to comply with regulatory identity verification requirements.
• Whitebox Services AGsupportingTechnology or IntegrationBased in Switzerland (Sihleggstrasse 23, 8832 Wollerau), this entity supports Whitebox with IBAN verification services, working with IBAN.DE as sub-processor.
• Whitebox Services GmbHsupportingTechnology or IntegrationGerman entity located at the Freiburg headquarters that handles address verification services, with UNISERV GmbH as sub-processor.
• Amazon Web Services (AWS)infrastructureTechnology or IntegrationAWS hosts Whitebox's database and web content on servers located exclusively in the Frankfurt region, providing scalability, high availability, and data loss protection.
• Usercentrics GmbHinfrastructureTechnology or IntegrationCookie consent technology provider managing consent documentation for GDPR compliance on Whitebox's digital platforms.
• HubSpotinfrastructureTechnology or IntegrationCRM and marketing automation platform used for customer relationship management and email communications, including AI-assisted email draft generation.
• TrustpilotsupportingOthersCustomer review platform used to collect and publish customer ratings of Whitebox's services, providing social proof for prospective customers.
• extraETFminorOthersGerman finance magazine that independently reviewed and awarded Whitebox Global their 'Empfehlung' (recommendation) rating, validating the strategy's innovative approach.

Scale indicators5 records

Recent moves1 record

Expansion highlights6 records

Direct peers

• Quirion: German digital wealth manager from the Quirin Privatbank group offering science-driven ETF portfolios with goal-based investing; directly competes with Whitebox's Global strategy on methodology and customer segment.
• Vaamo: Frankfurt-based robo-advisor providing cost-transparent, science-based ETF portfolio management to German retail; directly comparable fee model and strategy menu versus Whitebox's Global and Value offerings.
• growney: Berlin-based digital wealth manager offering globally diversified ETF portfolios with ESG variants to German retail; product and customer overlap with Whitebox is high, particularly on the Global Green proposition.
• Ginmon: German robo-advisor offering long-term ETF wealth building with risk-tiered portfolios and savings plans; targets the same self-directed retail investor with comparable pricing structure and digital onboarding.
• VisualVest: Genossenschaftsbank-backed German robo-advisor offering diversified ETF portfolios with sustainable variants; competes in same product categories (including ESG-screened strategies) as Whitebox's Global Green and Value Green.
• LIQID: German digital wealth manager focused on affluent retail investors with personalized ETF portfolios and dedicated advisors; comparable hybrid model combining algorithmic management with human advisory similar to Whitebox's proposition.
• Scalable Capital: Leading German robo-advisor and neo-broker offering ETF-based managed portfolios and brokerage; competes directly with Whitebox for German retail wealth management customers with similar algorithmic rebalancing and tiered AUM pricing.
• Easyfolio: Munich-based digital wealth manager offering theme-based ETF portfolios (value, dividend, ESG) to German retail investors; closely comparable in product structure and target customer to Whitebox's Value and Global strategy lines.

Broad incumbents

• Trade Republic: Germany's largest neo-broker with multi-billion-euro valuation offering commission-free trading plus savings plans; while its core business is execution rather than managed portfolios, it competes with Whitebox for the same self-directed retail-investor wallet, especially through savings plans and the new 'Trade Republic Wealth' offering.

Emerging players

• Oskar: Berlin-based robo-advisor for parents investing on behalf of children, offering globally diversified ETF portfolios; emerging player with narrower use case (child investment) but similar ETF-based managed portfolio approach and German retail customer base as Whitebox.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks7 records

Key highlights7 records

Customer concentration

• Xx.com/whiteboxde
• Facebookfacebook.com/whiteboxde
• LinkedInlinkedin.com/company/whiteboxeu

Compliance6 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds

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 Whitebox