Berlin / Frankfurt, 26th of March 2024
UnitPlus is building and distributing a liquidity management solution for small and mid-sized German companies (SMEs), which will include a Goldman Sachs Asset Management managed fund solution. While historically almost exclusively large corporates with their financial and investment expertise and respective internal resources were able to invest company liquidity in the money market, the CashPlus SME platform now provides this option to companies of all sizes.
SMEs can play a critical role for Germany’s economic growth and prosperity. They create jobs, train young talents and shape Germany’s competitiveness through investments. In order to ensure that mid-market companies will not lose their future competitiveness, a profitability-oriented liquidity management is essential. While the average daily allowance account for companies is currently 1.05% interest p.a. according to statistics of the European Central Bank, which is significantly below the current ECB’s 4.00% deposit rate. The CashPlus solution allows SMEs to invest corporate capital in one of the largest Euro money market funds, whose return is historically closely correlated with the ECB deposit facility.
The CashPlus SME platform strives to protect capital, maintain daily liquidity and maximize current income as part of its investment parameters. Professional custody of corporate liquidity in the corporate security deposit, easy access to the web interface, and active steering at the money market via Goldman Sachs enables profitability without making compromises on security.
Fabian Mohr, co-founder of UnitPlus, points out: “We are delighted to have a profiled partner with Goldman Sachs Asset Management and to offer German SMEs the opportunity to invest their funds in the money market in the most simple, flexible and secure way, starting from the first euro. Thus, in the future, any company without special prior financial and investment expertise and internal resources can invest profitably to increase its competitiveness.”
“We are very pleased to partner with UnitPlus. Cash Plus SME is a smart, innovative and lean solution that provides German small and medium-sized businesses (SMEs) with access to an potentially attractive money market fund offering that was previously mainly reserved for large institutional clients. With over 40 years of experience, Goldman Sachs Asset Management has a strategic focus on money market funds and is a leading provider in this segment. We oversee 793 billion US Dollars in money market and short duration assets, delivering competitive risk adjusted returns while maintaining our primary objectives of capital preservation and daily liquidity1”, says Sandra Straka, Head of the Third-Party-Wealth business in Germany and Austria for Goldman Sachs Asset Management.
The CashPlus SME platform will launch in Germany in the coming weeks. At this time, interested companies can join a waitlist.
1: There is no guarantee that objectives will be met.
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About Unit Plus
The Berlin based startup UnitPlus was founded by Fabian Mohr, Kerstin Schneider and Sébastien Segue in Berlin. Managing Director Fabian Mohr worked as an equity analyst at Flossbach von Storch before starting to build UnitPlus in January 2021. The CFO, Kerstin Schneider, worked for seven years in management consulting for financial services, most recently as a manager at zeb. Sébastien Segue (CTO) was a senior executive at Klarna before co-founding the company. UnitPlus offers consumers and (soon) businesses a revolutionary combination of capital market yield on saving accounts with checking account payment flexibility. By doing so UnitPlus brings yield to card payments and addresses over 7 trillion in saving products in Europe to help individuals and companies make the most out of their money while staying flexible.
About Goldman Sachs Asset Management
Goldman Sachs Asset Management is the primary investing area within Goldman Sachs (NYSE: GS), delivering investment and advisory services across public and private markets for the world’s leading institutions, financial advisors and individuals.
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Goldman Sachs Asset Management is a leading investor across fixed income, liquidity, equity, alternatives and multi-asset solutions. Goldman Sachs oversees more than $2.8 trillion in assets under supervision as of December 31, 2023. Follow us on LinkedIn.
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Compliance Code: 362628-OTU-1992130Date of first use: March 20th, 2024