Luxembourg-based data-driven fintech that provides Software-as-a-Service (SaaS) solutions for the asset management industry, Next Gate Tech has raised €5 million in a funding round. The round was backed by NewAlpha Asset Management, alongside Volta Ventures, Seed X, Seeder Fund, Expon Capital and Middlegame Ventures.
The financing will support the company’s R&D in analytics and help them in their recruitment, support the opening of the fintech’s new London office and its expansion plans across Europe.
“This cohort of SaaS B2B specialised institutional investors will help us to accelerate our growth to reach our goal of becoming a European leader in data management and data analytics for fund industry operations,” said Davide Martucci, CEO at Next Gate Tech.
Using the latest cloud technology to transform their clients’ fragmented data has proven an effective solution for a wide range of asset management tasks, including NAV Oversight, Risk Oversight, and ESG Oversight.
“Data management and oversight are significant pain points in the fund industry, especially as regulation becomes more demanding around risk management, reporting and NAV oversight, ” added Aurélie Nicolas, investment director at NewAlpha Asset Management.
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