Brussels-based provider of data and analytics to commodity traders, Kpler has received $200 million in equity funding. The round was led by Five Arrows and Insight Partners and represents a minority stake in the company.
The investment is the first external fundraising initiative for Kpler, which has been bootstrapped since its foundation in 2014. The fresh capital will fuel the company’s sustainable trade within physical commodities, the energy transition, and adjacent markets. The platform is also looking at further organic and inorganic growth with more acquisitions. It also intends to hire over 100 staff in the coming months.
The data firm has grown aggressively in recent months with the purchase of rival ClipperData and consultant JBC Energy.
According to the company, it has doubled annual recurring revenue in the last 18 months, which is now above $40 million per year. The company aims for it to reach $300 million in the next few years.
Francois Cazor, CEO, Kpler said: “We are confident we have found the best sponsors to accelerate our development now and in the long run.”