Berlin, 26 May 2026 – Moonfare Financial Services GmbH, a subsidiary of Moonfare GmbH and part of the Moonfare Group, has received authorisation from Germany's Federal Financial Supervisory Authority (BaFin) to operate as an independent investment firm under the German Investment Firm Act (Wertpapierinstitutsgesetz, WpIG). The licence covers the investment services of investment broking, investment advice and portfolio management. With this step, the company completes its transition from the previous tied-agent model to direct supervision by BaFin.

Until now, parent company Moonfare GmbH operated as a tied agent under the umbrella of DHD Deutsche Haftungsdach GmbH, providing investment broking and investment advice in accordance with § 2 (10) of the German Banking Act (KWG). The authorisation places Moonfare under the same regulatory standards as established German investment firms, with direct BaFin oversight. Heike Hövekamp and Magnus Grufman have been appointed as designated managing directors.

"Our ambition is to build the global operating system for private markets, the infrastructure that lets private investors and family offices run their entire private markets portfolio in one place. The BaFin licence is a defining step on that path. It reflects the maturity of our business and the standards our investors expect of us, and gives us the foundation to extend our offering into advice and portfolio management." said Dr. Steffen Pauls, Founder and Co-CEO of Moonfare GmbH.

As an independent investment firm, Moonfare can now manage client portfolios directly and develop its products and services without relying on a third-party umbrella.

"This authorisation is an important milestone in strengthening our governance and regulatory framework, and gives our investors the assurance of dealing with a firm held to the full standards of the WpIG, directly supervised by BaFin," says Heike Hövekamp, Chief Legal & Compliance Officer at Moonfare GmbH. "Direct supervision increases transparency, reinforces our institutional standards and provides a solid foundation for the continued expansion of our private markets offering."

This marks the latest step in the regulatory build-out that began when Moonfare launched its German operations, and clears the path for the firm to broaden its portfolio management and advisory services across Europe.