A Berlin-headquartered FinTech has launched in the UK with the opening of a London office.
bunch, behind an operating system for private equity and venture capital funds, is now targeting the largest potential market for its services in Europe.
The move builds on a stellar year of growth for the company, which has tripled both its revenue and Assets under Administration over the past 12 months.
bunch provides an end-to-end platform for investors to operate, administrate and transact within private markets. While fund operations have historically been characterised by complex, paperwork-based processes and a lack of transparency, bunch’s data-centric approach enables GPs and LPs to interact with accurate, up-to-date information, all in one place.
This new ‘System of Record’ for private markets combines AI and workflow automation with personalised support from fund administration experts, delivering a white-glove service spanning the entire fund lifecycle.
London is home to over 1,500 active PE and VC funds, while over half the value of the European private markets’ total assets under management sits within the UK. As the global value of alternative assets is projected to reach $38 trillion in 2028, the launch is a strategic move to accelerate bunch’s international expansion, posing a challenge to legacy providers such as Aztec, Apex and IQEQ, as well as more specialised platforms such as Carta.
The company has appointed Tomás Herrmann, former investor at Creandum and Hedosophia, to head up the newly-opened London office at Tottenham Court Road. bunch plans to invest heavily in its UK go-to-market team, growing its headcount to double figures over the coming year to drive commercial growth and develop client partnerships.
Founded in late 2021, bunch is an established player in mainland Europe, working with over 40 of the continent’s most renowned funds, including Cherry Ventures, Hummingbird VC and Motive Partners. The UK is the first of several new country launches slated for the year ahead, as bunch pursues its goal of becoming the partner of choice to pan-European funds, fuelled by its $15.5M Series A raise in July.
“With demand for private markets booming, legacy systems are no longer fit for purpose,” said Herrmann, general manager for the UK. “By building a world-class team and comprehensive tech infrastructure to meet the unique needs of this market, bunch empowers GPs and finance leaders to focus on strategy, not admin.”
Lord Mayor of London Alastair King said: “It is great to see bunch launch its UK presence and London office. We welcome the innovation that bunch are bringing to the private investment markets at times when unlocking private capital is more crucial than ever for the UK and global economic growth. London as a global financial centre with a high concentration of private markets investors is the natural choice for bunch to grow and scale up its innovative offer to the industry.”