FINBOURNE Technology, a company delivering an interconnected network of functionality and data that enables the investment community to better serve clients in a constantly evolving market, has announced that it has raised €65 million in Series B funding.
This latest round was led by Highland Europe and AVP and follows a Series A funding round of £15 million in 2021. This investment will fund the next phase in FINBOURNE’s commercial development, including expanding its sales, product and marketing capabilities in the US, UK, Ireland, Singapore and Australia.
FINBOURNE is a market-leading provider of investment management solutions and a cloud-native data management platform. Many of the world’s leading asset managers, alternative asset managers, asset owners, and asset servicers benefit from the insight, efficiency and scalability FINBOURNE’s functionality provides. Across the investment lifecycle, investment and operations teams can increase revenue, reduce costs and better manage risk.
Thomas McHugh, CEO and Co-founder, FINBOURNE Technology, stated: “This funding round and support from top-tier investors will help us deliver our enhanced go-to-market strategies. By significantly investing in go-to-market initiatives across our key segments, we can help even more global investment management, banking, and capital markets firms access and utilise a trusted and consolidated view of their financial data across the front, middle and back office.”
FINBOURNE’s portfolio of products is built upon an interoperable and scalable data management platform. Its SaaS-based LUSID platform delivers front-to-back functionality across portfolio management, fund accounting, order management, compliance and more. It allows for the democratisation of data with entitlements, lineage and utilisation metrics embedded. In addition, the network of data and functions available to AI and ML programming ecosystems can transform the operating model for clients, readying them for the coming wave of AI-driven efficiencies.
In the last 12 months, FINBOURNE has announced a string of new client wins across the global investment management, banking and capital markets sectors it serves, including Northern Trust, Omba Advisory and the Pension Insurance Corporation (PIC).
Tony Zappala, Partner, Highland Europe, commented: “Over the past few years, FINBOURNE has built a revolutionary SaaS platform that is enabling many of the world’s biggest financial institutions to move from legacy, siloed solutions to a modern data architecture, allowing full, real-time visibility and optimal decision making. We look forward to supporting the FINBOURNE team as it expands operations globally to support more clients and continues its mission to deliver cost and operational efficiencies at scale.”
Imran Akram, General Partner, AVP, said: “When the team first showed me in 2020 that they could integrate investment data from the full universe of assets held by managers into a single platform, they had me hooked. Today this is a clear differentiator and especially important to the emerging AI wave. We are excited to help FINBOURNE as they expand their product suite and bring its benefits to a broader set of financial services customers.”
Read the orginal article: https://www.eu-startups.com/2024/06/london-based-finbourne-technology-raises-e65-million-series-b-to-unlock-the-power-of-financial-data/
