ZURICH (Reuters) - Swiss bank Julius Baer has taken a minority stake in financial technology company Nectar Financial AG that will help it invest further in its growth strategy, Nectar said on Tuesday.
"Julius Baer invests in Nectar Financial and joins the financing of a further growth step," said Nectar Financial, which helps around 30 clients manage middle-office processes, investment intelligence, reporting, system solutions and data management.
The Swiss fintech company did not indicate the size of the stake.
Julius Baer confirmed the information but declined to comment further.
Nectar's founders, Michael Appenzeller and Pius Stucki, as well as its management team, continue to hold the controlling majority of the capital, while Urs Wietlisbach, co-founder of Partners Group, also has a minority stake, Nectar said.
Reporting by Silke Koltrowitz and Oliver Hirt, editing by Louise Heavens