FINBOURNE Technology Raises £55m
Summary
FINBOURNE Technologys solutions deliver an interconnected network of functionality and data that enables the investment community to better serve clients in a constantly evolving market; it has announced that it has raised \xa355m in Series B funding.This latest round was led by Highland Europe and AVP and follows a Series A funding round of \xa315m in 2021. It demonstrates continued investor appetite for FINBOURNEs solutions, client base and high-growth business model.This investment will fund the next phase in FINBOURNEs commercial development, including expanding its sales, product and marketing capabilities in the US, UK, Ireland, Singapore and Australia.FINBOURNE is a market-leading provider of investment management solutions and a cloud-native data management platform. 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 a string of 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: This funding round and support from top-tier investors will help us deliver our enhanced go-to-market strategies.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 worlds 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. We are excited to help FINBOURNE as they expand their product suite and bring its benefits to a broader set of financial services customers.Santander Corporate & Investment Banking (Santander CIB) acted as the exclusive financial advisor to FINBOURNE in this transaction.