Singapore’s Temasek invests in Scottish fintech unicorn FNZ
Summary
Singapore state investor Temasek has invested an undisclosed amount in FNZ, the first fintech company in Scotland to achieve a unicorn status, according to an announcement. Temasek joins existing investors Caisse de depot et placement du Quebec (CDPQ) and Generation Investment Management. The firm said its technology, transaction, and custody services enable clients to provide wealth management solutions to financial advisers and end-investors. Additionally, FNZ said it is responsible for over 400 billion euros in assets under administration held by around 8 million customers of some of the world’s largest financial institutions. “We look forward to exploring opportunities to work together to broaden our customer base in Asia and beyond,” Adrian Durham, Founder and Chief Executive of FNZ Group, said.
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