- fundcraft has raised €12 million to expand its digital fund operations platform throughout Europe.
- The company, based in Luxembourg, has raised a total of €40 million since its establishment in 2021.
- The company intends to employ the new funds to enter the institutional private equity buyout market.
Julien De Mayer, having previously led fund administration at Rocket Internet, founded fundcraft to address problems he observed with external service providers. The company just raised €12 million to expand its digital platform for fund operations related to more complex private equity fund structures.
Riverside Acceleration Capital and CCAP Investments jointly led the funding round, with continued support provided by 3VC, MiddleGame Ventures, and Aperture Capital. The total amount Fundcraft has raised since 2021 is now €40 million, following the completion of its €11 million Series A in two stages in 2024.
“We are raising capital to scale a model that is already proving itself with institutional clients facing more complex requirements across Europe. Our approach is to start addressing the needs and complexities of the Buyout asset manager and implement our proven operating model organically across jurisdictions without stitching together disconnected platforms or service models,” said De Mayer, co-founder and chief executive of Fundcraft.
The management of funds involves various back-office functions, including calculating net asset values, making capital calls, preparing reports for investors, and submitting compliance documents. The industry is undergoing rapid change, with the global market for fund administration software valued at $6.8 billion in 2025 and projected to reach $14.2 billion by 2034, representing a 9.2% annual growth rate.
fundcraft notes that a large part of the market continues to rely on dispersed processes rather than using a single platform.
The company was set up in Luxembourg in 2021 by De Mayer, Olga Porro, the chief product officer and holder of a doctorate in applied mathematics from the Universitat Politècnica de Catalunya, and Victor Martin Garcia, the chief technology officer. Christian Senitz, who is currently the chief operating officer, first joined the board and became an investor before assuming an operational role.
From spreadsheets to one ledger
The company has combined, in Luxembourg, a CSSF-licensed AIFM and its central administration business with an AMF-authorised entity, which was added in June 2026 and employs its own software.
This arrangement enables investor onboarding, fund administration, portfolio operations and reporting to be carried out using the same data.
fundcraft states that its platform now supports almost 300 funds and more than 20,000 limited partner subscriptions. The number of new clients it acquired in the first half of 2026 was equal to the number it acquired throughout all of 2025, and nearly one-third of the new contracts were obtained by existing clients who were setting up new funds.
A crowded back office
Carta, the largest provider in the United States, maintains its own general ledger and leads the way in administering venture and private equity funds in the country, though it can be difficult to move away from its platform. Juniper Square has raised more than $130 million and has achieved unicorn status thanks to its investor portal for real estate and private equity funds. Allvue Systems caters to large enterprises but requires lengthy and highly resource-intensive implementations.
In contrast to these rivals, fundcraft is a licensed fund administrator in both Luxembourg and France, a point which it considers important as European reporting requirements become more stringent.
Hanover Park, a US-based startup founded in 2024, secured $27 million in Series A funding this year and specialises in using AI agents on a dedicated ledger. Fundcraft is also developing an AI-native solution.
Chasing buyout complexity
The funding obtained will enable fundcraft to meet more complicated requirements. Its French entity, which was approved by the AMF in June 2026, is now preparing to launch funds aimed at attracting over €1 billion in commitments, comprising ELTIF 2.0 and evergreen structures, to give retail investors greater access to private markets.
The company is also moving into institutional private equity buyout strategies, which are more complex than the venture and growth funds that formed its initial client base, for example, Moonfare, Rocket Internet and Lifeline Ventures.
Christian Stein, senior partner at Riverside Acceleration Capital, said, “We see first-hand the operational challenges that increasing complexity in private markets creates for asset managers, investors and service providers. fundcraft brings a differentiated operating model for this environment, using integrated technology and AI to deliver a superior client and investor experience at scale.”
Christopher Caesar, founding and managing partner at CCAP, added, “fundcraft digitalises the entire fund lifecycle on one data layer — structuring, onboarding, administration, reporting, compliance. Data is captured once and becomes the single source of truth in an industry defined by fragmentation. That foundation is what makes technology and AI a growth engine; every process brought onto the platform widens what can be automated next.”
fundcraft has succeeded in raising funds on two occasions over the course of two years, since it believes that fund administration should be greatly improved and that a properly regulated, purpose-designed platform can outperform large software companies based in the United States and traditional, service-oriented administrators in Europe.
The current challenge is whether this method will prove viable as fundcraft begins managing billion-euro buyout funds rather than venture funds, a change that both investors and competitors are keeping a close eye on.
