LONDON, 10 September, 2024 – FINBOURNE Technology, architects of an interconnected network of functionality and data that enables the investment community to better serve clients in a constantly evolving market has today announced that it has completed a secondary funding round.
The successful secondary raise follows a Series B funding round of £55m in June 2024 and brings the total to over £100m, making it one of the largest series B raises in the UK. It allows for six investors to follow-on from their original investment and four additional investors to join the roster of firms with a stake in FINBOURNE. Two investors, CommerzVentures and HSBC, will join the FINBOURNE Board as observers.
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.
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 multiple 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).
Thomas McHugh, CEO and Co-founder, FINBOURNE Technology stated: “I am encouraged that FINBOURNE’s best-in-class SaaS solutions, top-tier clients from across the financial services industry and high-growth go-to-market strategies continue to prove attractive for investors. We are looking forward to working with our new partners as we significantly expand our client base as firms transform their businesses to make trusted and consolidated data core to better and faster decision making across the front, middle and back office.”
Heiko Schwender, Managing Partner, CommerzVentures said: “The FINBOURNE team has built an indispensable financial services data platform for the entire asset ecosystem. Their “source of truth” data standards are ideal for these organisations, enhancing current investment activity and preparing them for the coming AI wave. The platform’s success in tackling the long-standing challenge of data fragmentation, while future-proofing their clients for AI exemplifies the innovation in the category-leading fintechs we’re committed to backing. We are excited to be working with such a high-calibre team.”
Fiona Horsewill, Global Head of Securities Services, HSBC, commented: “We’re excited to partner with FINBOURNE as they have built an investment servicing platform that complements our vision to benefit asset owners and managers by leveraging platform capabilities to streamline the post-trade ecosystem, and deliver enhanced client experience and future-ready services. We look forward to working alongside the team as it continues on its exciting growth trajectory.”
Santander Corporate & Investment Banking (Santander CIB) acted as the exclusive financial advisor to FINBOURNE in this transaction.
ENDS
About FINBOURNE Technology
FINBOURNE’s solutions deliver an interconnected network of functionality and data that enables the investment community to better serve clients in a constantly evolving market.
Its investment management solutions and cloud-native data management platform ensure that investment and operations teams can increase revenue, reduce costs, and better manage risk across the investment life cycle.
With operations in North America, the UK and Europe, Asia and Australia, FINBOURNE is trusted by some of the world’s leading financial services firms, including Fidelity International, London Stock Exchange Group, Baillie Gifford and Northern Trust.
For more information on FINBOURNE Technology visit www.finbourne.com or contact sales@finbourne.com.
About CommerzVentures
Founded in 2014, CommerzVentures is a specialised fintech investor with assets under management of €550 million. CommerzVentures invests in early and growth-stage companies in the areas of Fintech, Insurtech and Climate Fintech. CommerzVentures is a return-oriented investor with a geographical focus on Europe and pursues a global strategy that also includes Israel, the USA and Africa.
CoV Management GmbH is the independent manager of the CommerzVentures funds. Commerzbank AG is the anchor investor in all three funds.
About HSBC
HSBC Holdings plc, the parent company of HSBC, is headquartered in London. HSBC serves customers worldwide from offices in 60 countries and territories. With assets of US$2,975bn at 30 June 2024, HSBC is one of the world’s largest banking and financial services organisations.
Media Contacts:
Flora Stirling
FINBOURNE Technology
Ted Harvey
Aspectus Group
