FINBOURNE Technology has raised £55m in Series B funding. The company provides investment management solutions and a cloud-native data management platform.
This latest round was led by Highland Europe and AVP and follows a £15 million Series A funding round in 2021. It demonstrates continued investor interest in FINBOURNE's solutions, customer base and high-growth business model.
The investment will fund the next stage of FINBOURNE's commercial development, which includes expanding sales, product and marketing capabilities in the US, UK, Ireland, Singapore and Australia.
Many asset managers, alternative asset managers, asset owners and asset servicing firms are benefiting from efficient and scalable wealthtech, enabling investment and operations teams to increase revenue, reduce costs and better manage risk throughout the investment lifecycle.
FINBOURNE's product portfolio is built on an interoperable and scalable data management platform. The SaaS-based LUSID platform provides front-to-back capabilities including portfolio management, fund accounting, order management and compliance. It enables democratization of data with built-in eligibility, lineage and utilization metrics. Additionally, the network of data and capabilities available in the AI and ML programming ecosystem enables clients to transform their operating models and prepare for a wave of AI-driven efficiencies.
Over the past 12 months, FINBOURNE has announced a series of new client wins across the global investment management, banking and capital markets sectors it serves, including Northern Trust, Omba Advisory and Pension Insurance Corporation (PIC).
Thomas McHugh, CEO and co-founder of FINBOURNE Technology, commented: “This funding round and support from top-tier investors will help us deliver on our enhanced go-to-market strategy.
“By investing heavily in go-to-market initiatives in our key segments, we are able to help even more global investment management, banking and capital markets firms access and leverage a trusted, unified view of their financial data across their front, middle and back office.”
Tony Zappala, Partner at Highland Europe, said: “Over the past few years, FINBOURNE has built an innovative SaaS platform that has enabled many of the world's largest financial institutions to move from outdated, siloed solutions to a modern data architecture, enabling full real-time visibility and optimal decision-making. We look forward to supporting the FINBOURNE team as they expand globally to support more clients and continue their mission to deliver cost and operational efficiencies at scale.”
