Quasol

What Quasol does

Quasol GmbH is a privately held German B2B software and consulting firm founded in February 2010 as a spin-off from Ruhr-Universität Bochum, specializing in financial mathematics and statistical computation for the financial industry. The company develops and licenses proprietary computational cores (Rechenkerne) implemented in MATLAB and delivered as compiled modules in C/C++, Excel, Java, .Net, or Python for integration into customer software environments. Core products include an extended Markowitz-based Portfolio Optimizer, a Benchmark Creator, Cluster Analysis, a Hedge Tool, and Monte Carlo-based risk measurement modules covering Value-at-Risk, Expected Shortfall, and derivatives pricing; an API/Webservice for statistical live evaluations was added in 2017. Quasol also conducts bespoke quantitative consulting for asset managers, insurers, and family offices on risk overlay strategies and structural break analysis.

Quasol serves two primary customer segments: financial software houses (PSplus/FINAplus, EDISOFT, FAIT, inasys) that embed Quasol's cores as OEM components inside their portfolio management platforms, and end-user financial institutions (Flossbach von Storch, Bôloise, Blu Family Office, alpha beta asset management) that engage Quasol for custom algorithmic development and advisory mandates. The company employs 1-10 people, operates from Hünxe, Germany, and maintains deep ongoing research partnerships with Ruhr-Universität Bochum (Prof. Dr. Holger Dette) and TU Dortmund (Prof. Dr. Dominik Wied), including transfer-partner status within SFB 823 since 2019.

Revenue is generated through a mix of licensing royalties on embedded computational cores, professional services for custom quantitative consulting, and recurring API/web-service subscriptions. Pricing is quote-based, with both per-optimization transaction billing and flat-rate subscription tiers offered. As of June 2025, ownership is held by Prof. Dr. Daniel Ziggel (founder and managing director), Dr. Alf Lüth, and Dr. Oliver Stypka, following the amicable departure of co-founder Vanessa Peters-Jansen.

Name

Quasol

Legal name

Quasol GmbH

Website

https://quasol.de

Company type

Private

Founded year

2010

Operating status

Operating

Headcount range

1–10 employees

Short description

Quasol GmbH is a German B2B fintech founded in 2010 as a spin-off of Ruhr-Universität Bochum, licensing proprietary MATLAB-based computational cores for portfolio optimization, risk measurement, and structural break analysis to financial software houses and asset managers across Europe.

Ownership category

akta.pro rank

Product category

Financial Risk Management Software

NAICS

Computer Systems Design Services (541512)

SIC

Services-Computer Programming Services (7371)

akta.pro primary industry

Card Issuing Platforms (Issuer Processing) (FSAGABAD)

Keywords

• Portfolio optimization software
• Financial risk analytics
• Quantitative finance algorithms
• Computational finance cores
• Structural break testing

Headquarters

HQ city

Hünxe

HQ country

Germany

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Software

Cost components

Personnel, Technology or R&D

Revenue model

1. Rechenkern Licensing: Quasol develops and licenses financial mathematical computational cores (Rechenkerne) to financial companies and software houses. These are customer-specific implementations delivered as compiled Matlab modules integrated into partner software products. Revenue is generated through licensing fees, which can be structured as per-optimization fees or flat-rate tariffs.
2. Consulting Services: Quantitative consulting services for complex financial mathematical problems in risk management, asset allocation, and portfolio optimization. Projects include bespoke algorithm development, software integration, and advisory mandates for financial institutions.
3. Web Service / API Access: Statistical evaluation services provided via web service and API since 2017. Customers upload datasets to receive real-time analysis results including structural break test results.

Pricing tiers

Go-to-market motion3 records

Distribution channels3 records

Marketing channels7 records

Core offering

Quasol develops and licenses financial-mathematical computation cores (Rechenkerne) implemented in MATLAB, delivered as compiled software modules in C/C++, Excel, Java, .Net, or Python formats. These cores solve complex quantitative problems for portfolio optimization, risk measurement (VaR, Expected Shortfall, Monte Carlo), structural break/change-point detection, benchmark creation, cluster analysis, and index-futures hedging for financial institutions and software vendors. The company also delivers bespoke consulting projects and provides statistical live-evaluation services via an API/web service.

Product overview

Quasol offers a modular suite of financial-mathematical computation cores delivered as standalone software modules for integration into customer systems. The core offering consists of Rechenkerne (computation cores) implemented in Matlab and delivered as C/C++, Excel, Java, .Net, or Python packages. The product portfolio includes the Portfoliooptimierer for Markowitz-based portfolio optimization with advanced constraints, the Benchmark Creator for optimal benchmark construction, Cluster-Analyse for investment universe reduction, a Hedge-Tool for index futures hedging, and API/Webservice offerings for statistical live evaluations. These modules address portfolio optimization, risk measurement, derivatives pricing, and scenario analysis for financial institutions and software houses.

Differentiator

Problem solved

Functional benefit

Products and services

• Quasol Rechenkerne (Financial Computation Cores) Modular suite of financial-mathematical computation cores implemented in MATLAB and delivered as compiled software (C/C++ Shared Library, Excel Add-in, Java Package, .Net Assembly, Python) for integration into customer software environments. Addresses portfolio optimization, risk measurement, derivatives pricing, and scenario analysis for financial institutions and software houses.
• Benchmark Creator Computation core that identifies the optimal benchmark for a given portfolio or the optimal substitute time series for a given security, constructed as linear combinations of freely chosen indices or securities using formal optimization algorithms.
• Portfoliooptimierer (Portfolio Optimizer) Advanced Markowitz-based portfolio optimization computation core with extensions for conditional limits, position count constraints, minimum/maximum weights for individual positions and groups, VaR filtering, sensitivity analyses, and comprehensive risk/performance metrics including Sortino Ratio and VaR decomposition.
• Cluster-Analyse (Cluster Analysis) Computation logic that reduces the investment universe by clustering securities based on return, volatility, and correlation characteristics, then selects the most promising securities from each cluster as input for portfolio optimization.
• Hedge-Tool Software module for optimal portfolio hedging using combinations of index futures, identifying the best hedge under various constraints and outputting quality metrics such as tracking error and correlation graphically.
• API/Webservice (Statistische Live-Auswertungen) Web service and API providing statistical live evaluations, initially including a proprietary structural break algorithm for identifying change points in volatility of asset classes/securities as risk-management signals. Customers upload their own datasets to receive real-time analysis results.

Quantifiable outcome

• Risk overlay reduced portfolio volatility and maximum drawdown while improving returns in live wikifolio tests (BRD portfolio showed improvements across all relevant metrics over 1-year test period 2017-2018)
• +3 more outcomes

Named customers10 records

Segments4 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

AI capability6 records

Feature8 records

Partnerships

17 partnerships are on record, tiered core, flagship, notable and minor.

• SFB 823 (Sonderforschungsbereich 823)coreStrategic or Co-development Partner · 1 October 2019Since October 2019, Quasol is a transfer partner of SFB 823 'Statistical modelling of nonlinear dynamic processes'. The project runs until mid-2021, led by Prof. Dr. H. Dette (Ruhr-Universität Bochum) and Dr. D. Ziggel (Quasol). Focus area: 'Structural break tests in risk and capital investment management', making SFB 823 research directly applicable to practice.
• EDISOFT GmbHcoreTechnology or Integration · 1 August 2017EDISOFT integrates multiple Quasol computational cores into their financial management applications and databases. Four Quasol cores were integrated: Benchmark Creator for parameter estimation, Portfolio Optimizer for automated portfolio generation, Cluster Analysis for investment universe reduction, and risk measurement modules. EDISOFT upgraded to the latest generation in September 2025, gaining conditional limits and position count constraint features.
• alpha beta asset management gmbhflagshipStrategic or Co-development Partner · 1 February 2017Strategic partnership formed February 2017 for joint product development and research, particularly in new product development. The flagship joint product is the Beta-Plus strategy — a global equity portfolio with structural break-based risk overlay. This led to the UCITS fund 'alpha beta Aktien Global Plus' launched September 2017, combining alpha beta's Sharpe Ratio indicators with Quasol's structural break algorithms.
• FOM Hochschule für Oekonomie & ManagementnotableStrategic or Co-development Partner · 1 January 2017Prof. Dr. Ziggel serves as professor at FOM Hochschule since November 2014 (with three-year interruption for asset manager role). Regular publication in internationally-ranked academic journals. The collaboration led to Prof. Dr. Ziggel receiving the FOM Research Prize 2017. FOM's Institute for Statistics provided academic collaboration including the Benchmark Creator project.
• Blu Family Office (London)flagshipStrategic or Co-development Partner · 1 January 2016Long-term strategic partnership with Blu Family Office in London led to multiple fund launches. Quasol supported the launch of the Blu Income Fund (November 2016, Secured Lending strategy) and the Blu Beta strategy. Joint academic publication 'Constructing a Passive Global Stock Market Portfolio from a Multigenerational Family Office Perspective' published in The Journal of Wealth Management. Christian Armbrüster (Managing Partner) is a co-author.
• inasys GmbHnotableTechnology or Integration · 1 October 2015inasys integrated Quasol computational cores into their inasys WebOffice portal-based portfolio management solution for private banking and wealth management. An initial pilot project developed a substitution algorithm for optimal portfolio position replacement. The partnership combined Quasol's quantitative models with inasys's modern technology and practical expertise.
• MINVEOminorStrategic or Co-development Partner · 1 January 2015Quasol supported the EXIST-funded online wealth management platform MINVEO (launched 2016) with computational cores and quantitative expertise. MINVEO is the second EXIST company Quasol has collaborated with, following Tunatech.
• FAIT Internet Software GmbHcoreTechnology or Integration · 1 January 2014Since 2014, FAIT has been supplied with modern computational cores for their Portfolio Illustrator software used by banks, financial service providers, and investment advisors. The partnership was upgraded in 2025 to the latest generation with significantly improved computation speed for large portfolios and new sensitivity metrics. FAIT delivers their software with over 1 million securities.
• Bâloise Group (Luxembourg)coreStrategic or Co-development Partner · 1 January 2014Joint project 'ActiveRiskControl' developed with Bâloise's Luxembourg competence center for innovative investment concepts. The over-one-year development combined quantitative algorithms based on TU Dortmund research with Bâloise's investment expertise. Quasol translated theoretical results into applicable investment strategies. The successful cooperation was planned for continuation.
• Tunatech GmbHminorStrategic or Co-development Partner · 1 January 2014Statistical cooperation with Tunatech GmbH, a Life Science Center Düsseldorf company developing novel aquaculture technologies (Atlantic bluefin tuna breeding). Quasol provided statistical expertise for experimental design and data analysis in biological experiments, as well as optimization of existing processes including feeding procedures.
• Intalus / Chameleon (Tradesignal)notableStrategic or Co-development Partner · 1 May 2013Jointly developed COSA (Chameleon Overlay Strategy Allocation) with Intalus. Quasol contributed a risk overlay module based on refined classical portfolio optimization theory, which was combined with Intalus currency strategies. Testing showed portfolio fluctuations and risk could be nearly halved with minimal performance sacrifice. Available to all Chameleon strategies and institutional investors since May 2013.
• Flossbach von Storch AGcoreTechnology or Integration · 1 January 2012Quasol delivered a computational core for risk and performance measurement to one of Germany's oldest and most established family office service providers. The solution enabled flexible calculation of various risk and performance metrics for comprehensive reporting. Successfully implemented derivative regulation requirements using Monte Carlo simulations.
• Golfmann-StahlbergerminorGTM or Marketing Partner · 1 October 2011Corporate consulting firm with long-standing experience in operational optimization. Starting October 2011, they expanded their offering with a webinar series on capital investment and risk management. Quasol provided expertise and conducted the webinars, with Dr. Daniel Ziggel as lecturer. This GTM partnership leveraged Golfmann-Stahlberger's consulting client base.
• PSplus Portfolio Software + Consulting GmbHcoreTechnology or Integration · 1 March 2011PSplus integrated Quasol's portfolio optimization and risk measurement cores since 2011. The partnership was expanded multiple times: derivatives risk measurement (2012-2013 for asset manager with >€7bn AUM), group limit functionality (2012), and Next Generation Risk Service (2018). PSplus combined with FinaSoft to form FINAplus GmbH, maintaining the partnership.
• con.fee AGnotableTechnology or Integration · 1 February 2011Long-term cooperation since 2011 to provide the 'con.fee Optimizer' for the con.fee platform serving fee-based financial advisors. The software enabled advisors to perform modern portfolio optimizations with scientifically-validated approaches. Unique feature was risk representation in concrete euro amounts for client communication. Both per-optimization and flat-rate billing options were offered.
• Ruhr-Universität Bochum (Prof. Dr. Holger Dette, Lehrstuhl für Stochastik)coreStrategic or Co-development Partner · 1 January 2010Quasol was founded as a spin-off of the statistics chair at Ruhr-Universität Bochum. Prof. Dr. Holger Dette serves as scientific mentor since founding in 2010. The collaboration involves continuous technology transfer from academic research to commercial applications, with joint publications in leading journals. As of 2019, Quasol became a transfer partner of SFB 823 'Statistical modelling of nonlinear dynamic processes'.
• TU Dortmund (Prof. Dr. Dominik Wied, Institut für Ökonometrie und Statistik)coreStrategic or Co-development Partner · 1 January 2010Ongoing cooperation since 2010 with the Institute for Econometrics and Statistics at TU Dortmund. Joint research produced numerous publications and the 2011 VTAD Award. Prof. Dr. Wied provides academic partnership for complex quantitative projects and co-authored high-impact publications including Journal of Banking & Finance articles on VaR backtests.

Scale indicators5 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• Ortec Finance: Dutch-headquartered provider of quantitative portfolio analytics, ALM, and risk management solutions for pensions, insurers, and wealth managers across Europe. Closely comparable in terms of European footprint, scientific methodology, and target customer base of financial institutions needing advanced quantitative tools.
• Numerix: Provider of quantitative analytics for derivatives pricing, risk management, and counterparty credit exposure across capital markets. Comparable to Quasol's derivatives risk measurement work (e.g., the Monte Carlo solution for the >€7bn AUM German asset manager).
• StatPro (Confluence): Performance measurement, analytics, and GIPS compliance software for asset managers, now part of Confluence. Comparable to Quasol's portfolio analytics and risk measurement Rechenkerne for wealth management and asset management clients.
• Qontigo (Axioma): Qontigo (formed from the combination of Axioma and Deutsche Börse's index business) provides portfolio risk and analytics solutions, factor models, and optimization tools to asset managers globally. Directly comparable to Quasol's portfolio optimization and risk measurement Rechenkerne, though at much larger scale and broader scope.

Broad incumbents

• MSCI: Global provider of investment decision support tools including MSCI Barra portfolio risk and analytics. Overlaps with Quasol's portfolio optimization and risk measurement capabilities but serves a much broader institutional market.
• Wolters Kluwer: Provider of risk, regulatory, and compliance solutions (including finance, risk, and reporting software) to financial institutions. Comparable in addressing MaRisk and regulatory compliance needs similar to Quasol's German regulatory solutions, though at much broader scope.
• Bloomberg: Bloomberg PORT offers portfolio and risk analytics to asset managers and wealth managers globally. A broad incumbent whose analytics suite overlaps with Quasol's portfolio optimization and risk modules.
• FactSet: Provider of portfolio analytics, risk, and performance attribution tools to asset managers and buy-side firms. Broader in scope than Quasol but competes in the same portfolio analytics and risk reporting category.
• Finastra: Large banking software platform covering capital markets, lending, treasury, and risk. Overlaps with Quasol's enterprise customer base and risk measurement solutions but as a broad incumbent across the full banking software stack.
• Morningstar: Investment research, data, and portfolio analytics platform serving advisors, asset managers, and wealth managers. Overlaps with Quasol's portfolio construction and risk measurement offerings through Morningstar Direct and related analytics suites.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/quasolgmbh

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 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 Quasol