Wealthtech FINBOURNE Technology raises £55M for global expansion

FINBOURNE Technology has raised £55m in Series B funding. The company provides investment management solutions and a cloud-native data management platform.

This latest round was led by Highland Europe and AVP and follows a Series A funding round of £15m in 2021. It demonstrates continued investor appetite for FINBOURNE’s solutions, client base and high-growth business model. 

This investment will fund the next phase in FINBOURNE’s commercial development, including expanding its sales, product and marketing capabilities in the US, UK, Ireland, Singapore and Australia. 

Many asset managers, alternative asset managers, asset owners, and asset servicers benefit from efficient and scalable wealthtech. Across the investment lifecycle, investment and operations teams can increase revenue, reduce costs and better manage risk.

FINBOURNE’s portfolio of products is built upon an interoperable and scalable data management platform. Its SaaS-based LUSID platform delivers front-to-back functionality across portfolio management, fund accounting, order management, compliance and more. It allows for the democratisation of data with entitlements, lineage and utilisation metrics embedded. 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 commented: “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 at Highland Europe shared: "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."