Indexa Capital Group reports a 358% increase in net profit and a 40% rise in revenue in the first half of 2025
Indexa Capital Group, the parent company of Indexa Capital AV, Indexa Caravel and Bewater Asset Management SGEIC, which began trading on BME Growth on July 12, 2023, has released its results for the first half of 2025.
Indexa Capital Group closed the first half of 2025 with a net profit of €0.90 million, up 358% compared to the same period last year.
Half-year commission income reached €4.20 million, up 40% year-on-year, confirming the group’s strong growth trajectory. The net profit margin stood at 22% of revenue, reflecting the high efficiency of its business model.
The company also approved a share buyback programme of up to €100,000, launched in May 2025.
The group’s main subsidiary, Indexa Capital AV, continues to drive growth thanks to a strong “snowball effect.” Over the past 12 months, clients’ net contributions reached €852 million, and assets under management or advice totalled €3.475 billion at the end of June — up 40% year-on-year.
As of October 2025, Indexa has surpassed €4 billion in assets under management or advice, and €10 million in annual recurring revenue.
Key developments during the semester include:
Bewater Asset Management SGEIC increased its revenue by 16% and invested in two new companies — Okify in March and Inversiva in April.
Meanwhile, Indexa Caravel, the French subsidiary, recorded a 62% increase in assets under management and a 75% rise in revenue, strengthening its position in the French market.
Unai Ansejo, co-founder and CEO of Indexa Capital Group, emphasized that “the strength of our model lies in recurring revenues, regular client contributions, client referrals, market appreciation, and an increasingly comprehensive offering. One of our goals remains to reach €30 million in recurring revenue by 2030, and we are well on our way.”
Financial information of the group
About Indexa Capital Group
Indexa Capital Group is the parent company of Indexa Capital AV (which accounts for 97% of group revenue), Indexa Caravel and Bewater Asset Management SGEIC.
Founded in 2015 by Unai Ansejo, François Derbaix, and Ramón Blanco — experts with extensive experience in markets, investments, and online business — the company is advised by leading figures such as Luis Martín Cabiedes, Manuel Conthe, Pedro Luis Uriarte, and Yves Perrier.
Indexa Capital AV is Spain’s leading independent portfolio manager, with over €4 billion in assets under management and more than 124,000 clients. Indexa combines investment management services (index fund portfolios and pension/EPSV portfolios) with personalized financial planning. It also offers a remunerated account in collaboration with A&G Banco, sub-manages two index fund-of-funds managed by Renta 4 Gestora, and advises Caser Pensiones on employment pension plan management. Additionally, Indexa offers clients a life insurance product, in collaboration with Caser Seguros, likely the most competitively priced life insurance in the market.
Indexa Caravel (https://indexacapital.com/fr/fra/ and https://www.getcaravel.fr/ is a French insurance broker specializing in savings and retirement insurance products (life insurance and PER, Plan Épargne Retraite).
Bewater Asset Management SGEIC is Spain’s leading single-investment fund manager.
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