NNInvestmentPartners

What NNInvestmentPartners does

ING TFI S.A. (formally ING Towarzystwo Funduszy Inwestycyjnych S.A., formerly Goldman Sachs TFI) is a Warsaw-headquartered Polish investment fund management company operating as a wholly-owned subsidiary of Dutch banking group ING Groep N.V. The company manages approximately 43 billion PLN in assets for nearly 800,000 clients through a portfolio of 29 investment funds spanning equity, bond, short-term debt, mixed, lifecycle, alternative, and pension strategies. Core retail products are the IKE (Indywidualne Konto Emerytalne) Individual Pension Account, which provides tax-free capital growth exempt from the 19% capital gains tax, and the IKZE (Indywidualne Konto Zabezpieczenia Emerytalnego) Individual Pension Security Account, which provides annual PIT deductions of up to 3,617 PLN (standard) or 5,426 PLN (entrepreneurs) in 2026. Corporate products include PPK (Pracownicze Plany Kapitałowe), PPE (Pracownicze Programy Emerytalne), and PPI programs sold directly to employers.

The technology layer is centered on the proprietary INGTFI24 platform, comprising a web portal and a mobile application available on iOS and Android, which supports account opening, portfolio management, fund selection, and transaction execution. Supporting tools include IKE/IKZE/PPE/PPK retirement calculators, a regular investment calculator, a fund comparison tool, and the Investor Academy educational content hub. The company is ISO 27001 certified for information security.

The revenue model is asset-based, generating subscription-style management fees as a percentage of AUM on the 29 mutual funds, account administration and transaction fees on IKE/IKZE (account maintenance offered at 0 PLN), and negotiated corporate pension plan management fees for PPK/PPE/PPI mandates. Distribution is multi-channel: digital self-serve via INGTFI24, cross-selling through ING Bank Polska's physical branch network and digital banking platforms, a call center, and a third-party distributor network. Corporate plans are sold via a dedicated direct B2B sales team. The company is led by CEO Malgorzata Barska and has 51-100 employees.

Name

NNInvestmentPartners

Legal name

ING Towarzystwo Funduszy Inwestycyjnych S.A.

Website

https://nntfi.pl

Company type

Private

Founded year

2022

Operating status

Operating

Headcount range

51–100 employees

Short description

ING TFI S.A. is a Warsaw-based Polish investment fund manager (subsidiary of ING Groep N.V.) operating 29 mutual funds and individual pension accounts (IKE/IKZE) for approximately 800,000 retail clients, with around 43 billion PLN in assets under management as of December 2025, distributed primarily through ING Bank Polska channels.

Ownership category

akta.pro rank

Product category

Investment Fund Management

NAICS

Pharmacy Benefit Management and Other Third Party Administration of Insurance and Pension Funds (524292)

SIC

Insurance Agents, Brokers & Service (6411)

akta.pro primary industry

Insurance-Integrated Wealth Managers (RIA + Insurance Solutions) (FSAAACAI)

akta.pro secondary industry

Pensions, Benefits & Retirement Disbursements (FSAMAKAI)

Keywords

• Investment fund management
• Pension account services
• Mutual fund products
• Retirement savings solutions
• Corporate pension programs

Headquarters

HQ city

Warsaw

HQ country

Poland

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Management Fees on Mutual Funds: ING TFI earns revenue by charging management fees on the assets under management across its 29 fund families. These fees are calculated as a percentage of AUM and represent the primary revenue stream for the company.
2. Pension Account Administration Fees: Revenue from administering IKE and IKZE accounts, including account opening and maintenance fees (currently offered at 0 PLN), and transaction fees on contributions.
3. Corporate Pension Plan Management (PPE, PPK, PPI): Fees charged to employer clients for managing corporate employee pension and investment plans, including PPK (Pracownicze Plany Kapitałowe) and PPE (Pracownicze Programy Emerytalne).

Pricing tiers

Go-to-market motion2 records

Distribution channels5 records

Marketing channels7 records

Core offering

NNInvestmentPartners (operating as ING TFI) is a Polish fund management company that creates and manages 29 investment funds and offers individual pension accounts (IKE, IKZE) and corporate pension programs (PPK, PPE). The company serves nearly 800,000 customers with approximately 43 billion PLN in assets under management as of December 2025. Products are accessible via the INGTFI24 self-service web platform and mobile application, as well as through ING Bank Polska's branch and digital banking channels.

Product overview

ING TFI (formerly Goldman Sachs TFI) operates as a fund management company offering a unified platform of pension and investment products. The core offerings include IKE and IKZE individual pension accounts (which provide tax advantages for retirement savings), and a portfolio of 29 investment funds spanning equity, bond, short-term debt, mixed, lifecycle, and alternative strategies. The company also manages corporate pension programs (PPK and PPE) for employers. All products are accessible through the ING TFI24 digital platform, which includes a mobile application for iOS and Android devices.

Differentiator

Problem solved

Functional benefit

Products and services

• IKE (Indywidualne Konto Emerytalne)

Quantifiable outcome

• 8 consecutive years as Best IKE provider (Analizy Online ranking)
• +6 more outcomes

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

Two partnerships are on record, tiered core.

• ING Bank PolskacoreChannel Partner/ Reseller/ DistributorING TFI leverages ING Bank's extensive branch network and digital banking platforms across Poland to distribute its investment fund and pension products. The bank serves as a primary distribution channel for INGTFI products, with cross-selling enabled through in-bank and online banking channels.
• ING Groep N.V.coreOthersING Groep N.V. is the ultimate parent company of ING TFI S.A. The relationship is one of subsidiary to parent within the global ING financial group. ING Groep N.V. provides the brand, infrastructure, and corporate governance framework within which ING TFI operates.

Scale indicators3 records

Recent moves5 records

Expansion highlights4 records

Direct peers

• BNP Paribas TFI: Polish investment fund company within BNP Paribas Polska, offering mutual funds and pension accounts distributed through the bank's retail network. Direct substitute in retail retirement savings.
• Santander TFI: TFI arm of Santander Bank Polska, distributing mutual funds, IKE, IKZE and PPK through the bank's branch network — same bank-distribution playbook targeting the same Polish retail segment as ING TFI.
• PZU TFI: Top-three Polish TFI owned by PZU Group, offering mutual funds, IKE/IKZE and OFE-era pension products. Highly comparable in product surface and customer target, with insurance-parent distribution.
• Pekao TFI: Polish investment fund company within Bank Pekao group, with comparable mutual fund range and pension accounts (IKE/IKZE/PPK). Same bank-owned TFI business model as ING TFI.
• PKO TFI: Largest Polish investment fund company by AUM, owned by PKO Bank Polski. Operates the same product mix — mutual funds, IKE/IKZE, PPK — and competes head-to-head with ING TFI for retail retirement assets across the same bank distribution.
• Skarbiec TFI: Independent Polish TFI focused on mutual funds and pension accounts, distinguishing itself on investment performance rather than bank distribution. Comparable retail investment-fund and IKE/IKZE product line.
• Aviva Investors Poland (TFI): Polish investment fund arm of Aviva (now part of Allianz), with mutual fund, IKE, IKZE and pension offerings distributed through insurance and bank channels — direct comparability in product suite and Polish retail pension market positioning.
• Millennium TFI: Polish TFI tied to Bank Millennium, distributing mutual funds and pension accounts via its parent's retail bank network. Direct competitor for ING TFI's bank-channel-distributed retail assets.
• Allianz TFI (Allianz Polska): Investment fund arm of Allianz Polska, with mutual funds and pension products. Comparable insurance-owned TFI distribution model and similar retail customer targeting.

Others

• NN Investment Partners (historical / NN Group): Historic predecessor brand of the Polish entity and broader NN Group asset-management franchise; while the global NN IP business was absorbed into Goldman Sachs Asset Management, the NN brand signals a sister-lineage European wealth-management peer with adjacent retirement-product expertise.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/@ING-TFI
• Facebookfacebook.com/TFIING
• LinkedInpl.linkedin.com/company/ing-tfi
• Xx.com/nntfi_pl

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 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 NNInvestmentPartners