Finbourne has secured £55 million in Series B funding to fuel its global expansion.
The London FinTech’s LUSID cloud platform offers a comprehensive network of functionality and data, enabling the investment community to better serve clients in an ever-changing market.
Leading asset managers, alternative asset managers, asset owners, and asset servicers worldwide use LUSID for portfolio management, fund accounting, order management, and compliance. Notable clients include Northern Trust, Omba Advisory, and the Pension Insurance Corporation (PIC).
This funding round, led by Highland Europe and AXA Venture Partners (AVP), follows a Series A round of £15 million in 2021. The new capital will allow Finbourne to expand its sales, product, and marketing capabilities in the US, UK, Ireland, Singapore, and Australia. The company remains majority employee-owned.
“This funding round and support from top-tier investors will help us deliver our enhanced go-to-market strategies,” said Thomas McHugh, CEO and co-founder. “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 utilize a trusted and consolidated view of their financial data across the front, middle, and back office.”
Tony Zappala, Partner at Highland Europe, commented, “Over the past few years, Finbourne has built a revolutionary SaaS platform that enables many of the world’s biggest financial institutions to transition from legacy, siloed solutions to a modern data architecture, providing full, real-time visibility and optimal decision-making. We look forward to supporting the Finbourne team as they expand operations globally to support more clients and continue their mission to deliver cost and operational efficiencies at scale.”
Imran Akram, General Partner at AVP, added, “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, I was 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.”
Source: businesscloud.co.uk
