Finbourne has raised £55 million in Series B funding to expand globally.
The London FinTech’s LUSID cloud platform delivers a network of functionality and data that enables the investment community to better serve clients in a constantly evolving market.
Many of the world’s leading asset managers, alternative asset managers, asset owners and asset servicers use the platform for portfolio management, fund accounting, order management and compliance.
Clients include Northern Trust, Omba Advisory and the Pension Insurance Corporation (PIC).
The round was led by Highland Europe and AVP, and follows a Series A funding round of £15m in 2021. It will see Finbourne 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 utilise a trusted and consolidated view of their financial data across the front, middle and back office.”
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.”