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London-based FINBOURNE Technology raises £55M for global expansion

FINBOURNE Technology founder
Picture credits: FINBOURNE Technology

FINBOURNE Technology, a London-based startup raised £55 million in Series B funding. The round was led by Highland Europe (which invested in ME+EM and Hyperexponential) and AXA Venture Partners (AVP) and follows a Series A funding round of £15 million raised back in 2021. 

How will it use the investment?

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. 

Tony Zappala, Partner, Highland Europe commented: “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.”

Imran Akram, General Partner, AVP said: “When the team first showed me in 2020 that they could integrate investment data from the full universe of assets held by managers into a single platform, they had me hooked. Today this is a clear differentiator and is especially important to the emerging AI wave. We are excited to help FINBOURNE as they expand their product suite and bring its benefits to a broader set of financial services customers.”

What does FINBOURNE do?

FINBOURNE Technology was founded in 2016 by Dermot Shortt, George Beasley, Paul Saunders, Stephen Collie, and Thomas McHugh. It works with a mission to reduce the cost of investing and increase transparency and trust in capital markets. 

Its solutions deliver an interconnected network of functionality and data that enables the investment community to better serve clients in a constantly evolving market. Its investment management solutions and cloud-native data management platform ensure that investment and operations teams can increase revenue, reduce costs, and better manage risk across the investment life cycle. 

Many of the world’s leading asset managers, alternative asset managers, asset owners, and asset servicers benefit from the insight, efficiency, and scalability FINBOURNE’s functionality provides. Across the investment lifecycle, investment and operations teams can increase revenue, reduce costs, and better manage risk.

Its SaaS-based 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.

FINBOURNE is used by some of the world’s leading financial services firms, including Fidelity International, London Stock Exchange Group, Baillie Gifford, and Northern Trust.

Thomas McHugh, CEO and Co-founder, FINBOURNE Technology stated: “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.”

What do we think about FINBOURNE Technology?

The startup is revolutionising financial data management with its SaaS platform, helping major financial institutions transition from legacy systems to modern architectures. With recent funding, it aims to expand globally and enhance its product suite, driving cost efficiencies and transparency in capital markets.  

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