NuWays

What NuWays does

NuWays AG is a Hamburg-based independent equity research and corporate access firm focused exclusively on European small and mid-cap listed companies. Founded in 2022 and registered as a German Aktiengesellschaft, the firm maintains an actively covered universe of 59 companies across sectors including Health Care, Technology, Consumer Discretionary, Transportation, Financials, Industrials, Media & Entertainment, Real Estate, and Energy, with a geographic footprint spanning Germany, Austria, Switzerland, Finland, Sweden, and other European markets.

The core product is the NuWays Platform, a proprietary web destination that distributes institutional-grade research notes, financial models, SWOT analyses, price targets, and investment recommendations, freely accessible to any registered investor. The platform is supported by a live event infrastructure (Cloudflare Calls / WebRTC with DTLS encryption) that hosts earnings calls, roadshows, roundtables, and capital markets days, with every event recorded, AI-transcribed, AI-summarized, and archived for replay. A daily customizable research newsletter and integration with research aggregators (Bloomberg, EQS) extend distribution reach beyond the proprietary platform.

NuWays monetizes through two professional-services streams: (1) issuer-sponsored equity research retainers, prepared in accordance with the EU Code of Conduct on Issuer-Sponsored Research; and (2) Equity Capital Markets services covering IPOs, capital increases, direct listings, secondary placements, block trades, and share buybacks. The ECM business is conducted under the regulatory liability umbrella of Wolfgang Steubing AG, where NuWays acts as a tied agent under Section 3(2) WpIG. The firm's go-to-market is sales-led, anchored by Co-CEOs Christian Sandherr and Frederik Jarchow, four equity research analysts, a Head of Sales, a Marketing Manager, a Tech Lead, and operations staff — approximately 14-15 people in total.

Name

NuWays

Legal name

NuWays AG

Website

https://nuways-ag.com

Company type

Private

Founded year

2022

Operating status

Operating

Headcount range

11–50 employees

Short description

NuWays AG is a Hamburg-based independent equity research and corporate access firm providing institutional-grade research, live corporate events, and ECM services for 59 European small and mid-cap listed companies, distributing research freely via its platform, Bloomberg, and EQS.

Ownership category

akta.pro rank

Product category

Equity Research & Capital Markets Services

NAICS

Portfolio Management and Investment Advice (523940)

SIC

Security Brokers, Dealers & Flotation Companies (6211)

akta.pro primary industry

M&A / Corporate Finance Finders (Deal Origination) (FSAEAMAD)

Keywords

• Equity research
• Corporate access
• Small-cap research
• Capital markets services
• Institutional research

Headquarters

HQ city

Hamburg

HQ country

Germany

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Issuer-Sponsored Equity Research Services: NuWays provides active research and widespread marketing for listed companies through their platform, serving as the intermediary between issuers and institutional investors. Research is prepared in accordance with the EU Code of Conduct on Issuer-Sponsored Research.
2. Equity Capital Markets (ECM) Services: NuWays offers ECM services including IPOs, capital increases, direct listings, secondary placements, block trades, and share buybacks. They act as a tied agent under Wolfgang Steubing AG's liability umbrella for placement business, investment brokerage, and investment advice.

Go-to-market motion1 record

Distribution channels4 records

Marketing channels5 records

Core offering

NuWays AG provides independent, institutional-grade equity research on European small and mid-cap listed companies, including research notes, financial models, SWOT analyses, price targets, and investment recommendations. The firm operates a proprietary platform hosting live earnings calls, roadshows, roundtables, and management presentations, with events recorded, transcribed, and AI-summarized for a searchable replay archive. NuWays also delivers Equity Capital Markets (ECM) services, acting as a tied agent under Wolfgang Steubing AG to support IPOs, capital increases, direct listings, secondary placements, block trades, and share buybacks.

Product overview

NuWays operates as an independent equity research and corporate access platform for European small and mid-cap companies. The core NuWays Platform delivers institutional-grade research including financial models, investment recommendations, and price targets, supplemented by a Coverage Universe of 59 actively covered stocks with real-time pricing. The platform integrates Corporate Events for live earnings calls, roadshows, and management presentations with streaming, replay, and AI-synthesized summaries via the Replay Archive. A Daily Research Newsletter delivers morning coverage updates customized by sector and market cap. NuWays also offers paid Equity Research and Equity Capital Markets services for listed and aspiring companies.

Differentiator

Problem solved

Functional benefit

Products and services

• NuWays Platform
• Equity Research Service
• Equity Capital Markets Service

Quantifiable outcome

• 13.3% YTD Alpha List performance vs SDAX benchmark as of 07/26, with top performers THE NAGA GROUP AG (+170.4%), LION E-Mobility AG (+84.0%), bet-at-home.com AG (+47.8%)

Named customers8 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

Feature4 records

Partnerships

One partnership is on record.

• Bittium OyjminorGTM or Marketing Partner · 6 November 2025NuWays entered into an analyst coverage agreement with Bittium Oyj, a Finnish aerospace and defense company. The agreement supports Bittium's strategic goal of accelerating international growth by expanding its analyst coverage through the German broker NuWays AG. The new coverage corresponds with increased investor interest in Europe.

Scale indicators4 records

Recent moves5 records

Expansion highlights5 records

Direct peers

• Edison Group: London-headquartered independent equity research and investor relations firm covering European and global small/mid-caps. Comparable free-distribution research platform with similar focus on under-covered issuers seeking investor visibility.
• GBC AG: Germany-based independent research firm with a focused coverage of German and European small/mid-caps. Closest direct competitor to NuWays given similar issuer-sponsored model, coverage philosophy, and target issuer base in the SDAX/Scale segments.
• AlphaValue: Paris-based independent equity research provider covering European small and mid-caps with proprietary quantitative ratings and price targets. Directly competes with NuWays in delivering independent, broad-coverage research on the same issuer universe.
• SMC Research: German independent equity research boutique specializing in small- and mid-cap coverage. Directly comparable business model and customer base as a paid issuer-sponsored research provider in the DACH small-cap segment.
• Qivalon (QIVALIN/formerly SES Research): German independent research firm with a long-established focus on small and mid-cap German equities. Comparable independent research provider focused on the same DACH small/mid-cap issuer universe.
• Equity Development: UK-based equity research and investor relations firm covering UK and European small/mid-caps. Similar mission of providing coverage and corporate access for under-followed listed companies competing for the same institutional investor mindshare.
• Liberum: UK-based independent investment bank focused on small and mid-cap equities with extensive research and corporate broking. Operates a structurally similar independent-research-plus-corporate-broker model on European small/mid-caps.

Broad incumbents

• Bryan Garnier & Co: European investment bank specialized in growth companies and small/mid-caps, providing both equity research and ECM/M&A advisory. Adjacent to NuWays with broader investment-banking services but overlapping issuer client base and research coverage focus.
• Pareto Securities: Nordic investment bank with deep small/mid-cap coverage across Nordic equities, providing research and ECM services. Comparable in targeting the same underserved segment in Nordic markets that NuWays is expanding into (Finland, Sweden coverage present).
• Hauck & Aufhäuser: German boutique investment bank with dedicated small/mid-cap research and ECM capabilities. Comparable in serving DACH small-cap issuers with both research coverage and capital markets execution, though with broader banking services beyond pure research.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/NuWays_AG
• LinkedInlinkedin.com/company/nuwaysag

Revenue estimate

Valuation estimate

Number of profiles

Profiles12 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 NuWays