FIMA

What FIMA does

FIMA is a privately-held Croatian investment services company, operating under legal entity Karfijam d.o.o. in Varaždin, with a continuous market presence dating to 1991 as one of the first brokerage houses in Croatia. The company delivers regulated securities trading on the Zagreb Stock Exchange and selected regional and international markets, professional portfolio management, individualized investment advisory, and digital asset services through specialized entities including FIMA Vrijednosnice (brokerage) and GO Invest (alternative investment fund manager). The product surface includes brokerage and portfolio management services, the proprietary FIMA Coin (FICN) digital asset, structured alternative investments (Qelo EV charging shares, Koykan development bonds, PGF Pharma opportunities), and consumer-facing financial tools (Top 10 Assets, Top 10 Cryptocurrencies, compound interest calculator).

FIMA operates under a sales-led go-to-market model centered on individual investment consulting, supplemented by an online trading platform and educational content marketing via blog, newsletter, webinars, and YouTube. Revenue is generated through transaction commissions on brokerage and digital asset transactions, recurring portfolio management fees, and advisory fees, with pricing set by direct consultation rather than published rate cards. The firm is regulated by HANFA, holds memberships at the ZSE, SKDD, SKDD-CCP Smart Clear, and the Investor Protection Fund, and is MiFID II compliant. It serves three client tiers—new investors, active investors, and institutional/HNW clients—across Croatia, Slovenia, Serbia, Czech Republic, Slovakia, and Germany. In March 2026 FIMA divested its ITS business to Jenoptik, indicating a strategic refocus on core investment services and capital markets activities.

Name

FIMA

Legal name

Karfijam d.o.o.

Website

https://fima.com

Company type

Private

Founded year

2006

Operating status

Operating

Headcount range

11–50 employees

Short description

FIMA is a Croatian investment services firm providing brokerage, portfolio management, investment advisory, and digital asset services through regulated entities to retail, active, and institutional/HNW clients across Central and Southeast Europe.

Ownership category

akta.pro rank

Product category

Investment Services & Brokerage

NAICS

Portfolio Management and Investment Advice (523940), Securities, Commodity Contracts, and Other Financial Investments and Related Activities (523)

SIC

Investment Advice (6282), Security Brokers, Dealers & Flotation Companies (6211)

akta.pro primary industry

Investment Management Advisory (RIA) (FSAEAAAB)

Keywords

• Securities brokerage services
• Investment portfolio management
• Alternative investment funds
• Digital asset services
• Investment advisory consulting

Headquarters

HQ city

Varazdin

HQ country

Croatia

HQ region

Europe

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

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

Revenue model

1. Securities Trading: Brokerage services for trading securities on Zagrebačka burza, regional exchanges, and selected international markets. Revenue generated through transaction commissions.
2. Portfolio Management: Professional portfolio management services with customized investment strategies for individual and institutional clients.
3. Investment Advisory: Individual investment consulting and advisory services tailored to client objectives, risk tolerance, and investment timelines.
4. Digital Asset Services: Cryptocurrency and digital asset investment services including structured crypto portfolios and personal digital asset accounts.

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels5 records

Core offering

FIMA is a Croatian investment services firm that provides securities brokerage on the Zagreb Stock Exchange and regional/international markets, professional portfolio management, individual investment advisory, and digital asset services including its proprietary FIMA Coin (FICN). Through its wholly-owned subsidiary GO Invest, it also offers licensed alternative investment fund management, and curates structured investment opportunities such as Qelo EV charging shares and Koykan development bonds distributed through its platform.

Product overview

FIMA is a Croatian financial services company operating since 1991 through specialized entities including FIMA Vrijednosnice (brokerage) and GO Invest (alternative investment fund manager). The company offers a unified platform combining traditional capital markets services (brokerage, portfolio management, investment advisory) with digital asset solutions and alternative investments. The product portfolio includes FIMA Coin (FICN) cryptocurrency, investment products (Qelo EV charging infrastructure shares, Koykan development bonds, PGF Pharma opportunities), financial tools (Top 10 Assets, Top 10 Cryptocurrencies via CoinGecko API, Compound Interest Calculator, FIMA Coin price tracker), and educational resources (new investor guides, webinars, newsletters, market insights). Services are structured for different investor profiles: new investors, active investors, and institutional/HNW clients, with full regulatory oversight from HANFA and MiFID II compliance.

Differentiator

Problem solved

Functional benefit

Brands

• FIMA Coin (FICN): Digital asset offered by FIMA for users seeking control over their financial future, combining innovation, security, and real value in one digital solution.
• Qelo
• Koykan

Products and services

• Brokerage Services Securities trading services enabling clients to access and trade on the Zagreb Stock Exchange (Zagrebačka burza), regional markets, and selected international capital markets. Revenue is generated through transaction commissions. For individual and institutional investors seeking execution across multiple exchanges.
• Portfolio Management Professional portfolio management based on investment strategy, diversification, and risk management principles, with customized investment strategies for individual and institutional clients. Revenue is generated through recurring subscription/management fees.
• Investment Advisory Individual investment advisory services tailored to client goals, risk profile, and investment horizons. Revenue is generated through professional services/advisory fees.
• Alternative Investments Alternative investment products including structured products, alternative investment funds, dynamic portfolios, and diversified investment portfolios, offered through GO Invest (a licensed alternative investment fund manager). For investors seeking diversification beyond traditional instruments.
• FIMA Coin (FICN) A digital asset/cryptocurrency created by FIMA for users seeking more control over their financial future, combining innovation, security, and real value in one digital solution. Includes structured crypto portfolios and personal digital asset accounts.
• Qelo Investment Shares Investment opportunity in electric vehicle charging infrastructure through an SPV (Special Purpose Vehicle) model, offering shares in the Qelo charging network at 3,000 EUR per share with a 10% ownership stake and clear exit strategy. Active across Croatia, Germany, Czech Republic, and Slovakia.
• Koykan Development Bond Corporate bond offering 7.5% fixed annual interest rate with 3-year maturity and semi-annual coupon payments, for investing in a growing street food restaurant chain present in four European countries (Croatia, Germany, Czech Republic, Slovakia). Minimum investment of 1,000 EUR.
• PGF Pharma Investment Opportunity Investment opportunity in the pharmaceutical and healthcare sector focused on development and market potential, distributed through FIMA's investment opportunities platform.

Named customers3 records

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration8 records

Partnerships

Four partnerships are on record, tiered minor and core.

• JenoptikminorOthers · 9 March 2026Jenoptik announced the acquisition of the ITS business from FIMA on 09 March 2026. This represents a divestiture of a business unit by FIMA rather than an active partnership.
• KoykanminorGTM or Marketing Partner · 1 January 2026FIMA serves as a referral platform for Koykan development bonds. Koykan is a street food restaurant chain present in four European countries (Croatia, Germany, Czech Republic, Slovakia). FIMA receives referral fees when investors register through the FIMA platform for Koykan bond investments.
• Xela InvestmentminorStrategic or Co-development Partner · 1 January 2026Xela Investment is mentioned as Koykan's partnership for German expansion, with plans for 10 new restaurant locations in Germany. While not directly FIMA's partner, this ecosystem relationship is relevant for investment opportunities presented on FIMA's platform.
• GO InvestcoreChannel Partner/ Reseller/ Distributor · 1 January 1991GO Invest is a licensed alternative investment fund manager and key organizational unit within the FIMA group. GO Invest focuses on active asset management, providing clients access to investment solutions beyond traditional market frameworks. The partnership enables FIMA to offer alternative investment fund products to its client base.

Scale indicators3 records

Recent moves10 records

Expansion highlights6 records

Broad incumbents

• Zagrebačka banka: Leading Croatian bank with a brokerage and asset-management arm. Competes with FIMA across brokerage and portfolio management but offers a much broader suite of banking, lending, and investment products to retail and corporate clients in Croatia.
• Privredna banka Zagreb: Major Croatian universal bank with brokerage and wealth management capabilities. Overlaps with FIMA in advisory and securities services for retail and HNW clients but competes from a much larger balance sheet and broader product set.
• Interactive Brokers: Global broker-dealer offering securities trading across international markets to retail and institutional clients. Competes with FIMA for active Croatian/SEE investors who self-direct across regional and international exchanges.
• Erste Group Bank (Croatia): Croatian subsidiary of Erste Group, one of the largest banking groups in CEE. Offers brokerage, asset management, and advisory through its universal banking platform, serving as a large incumbent competitor in the same Croatian and SEE investor pool.

Emerging players

• eToro: Global multi-asset retail investment platform with a regulated EU entity. Overlaps with FIMA in combining traditional securities trading and crypto/digital-asset exposure on a single platform, but at a vastly larger scale and with a fully digital onboarding experience.
• Saxo Bank: Digital-first multi-asset broker and wealth platform with strong European and CEE presence. Comparable to FIMA in offering securities trading and portfolio management across multiple markets, but competes via a tech-led, low-touch model versus FIMA's high-touch advisory approach.
• DeGiro: European low-cost online broker with broad market access. Comparable to FIMA's online brokerage channel for active and self-directed Croatian investors trading regional and international securities, but competes primarily on price and digital UX.

Direct peers

• Ilirika: Slovenian brokerage and investment services firm with a comparable mix of securities trading, asset management, and advisory services in a small SEE capital market. Closely comparable business model and regional customer profile.
• Wood & Company: Czech-headquartered brokerage and investment bank active across Central Europe. Comparable to FIMA as a regional, regulated broker-dealer offering securities trading, portfolio management, and advisory to retail and institutional clients across smaller CEE capital markets.
• Interkapital vrijednosni papiri: Direct Croatian brokerage and investment services peer offering brokerage, advisory, and portfolio management on the Zagreb Stock Exchange. Closely matches FIMA in product scope, regulatory framework (HANFA), and regional customer base, making it the most comparable direct peer.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/channel/UCzGOoDe3UqK1LqgCqEJKwEQ
• Xx.com/FIMA_VZ
• Facebookfacebook.com/MisterRiziko
• LinkedInlinkedin.com/company/fimavz

Compliance6 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Subsidiaries1 record

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 FIMA