Finbourne Technology, a London, UK-based fintech company that provides an investment data management platform, secured a debt facility from Kreos Capital worth up to £30 million.
The company will leverage the debt facility to grow its value proposition beyond its investment management origins and into banking and capital markets, while also building out global capacity and capability across the business.
It is also looking to release new SaaS capabilities across portfolio and fund accounting to support asset servicers in their digital transformation.
FINBOURNE CEO and co-founder Thomas McHugh said “The partnership with Kreos Capital is a vote of confidence for FINBOURNE and our growth plans. Their support and experience in working with high-growth companies will be critical to our onward success. “When we set out on our mission to deliver cost and operational efficiencies, we were clear we wanted to build a future where we support the financial services ecosystem to become change-ready. In six years, we have shown that we can help eliminate the risk associated with traditional operational transformation and at the same time address growing costs so that firms can win back margins and productivity.”
LUSID, its flagship, modern financial data stack solution, is a cloud-native, API-centric architecture that “ingests and translates” multiple complex data sets for enhanced management and insight, designed to lower the cost and complexity of investment data management.
In 2022, Finbourne Technology increased its headcount by nearly 50%, with total employees now standing at over 190 worldwide. Recently, it has launched operations in the North America and Asia-Pacific regions, announcing new offices in New York and Singapore.
These new locations enable FINBOURNE to deliver a 24/7 follow-the-sun support model to its global client base while being able to target new opportunities more closely on the ground.
Company: FINBOURNE Technology Limited
Raised: £30.0M
Round: Debt Facility
Funding Month: February 2023
Lead Investors: Kreos Capital
Additional Investors:
Company Website: https://www.finbourne.com/
Software Category: Investment Data Management Platform
About the Company: FINBOURNE Technology was founded in 2016 with the mission to reduce the cost of investing and increase transparency for everyone. It builds tools that power investment data processes for everyone across the investment industry, from hedge funds to global investment institutions. FINBOURNE offers a new and interoperable approach to data management, achieving value with a faster time to market. Its modern financial data stack empowers investment data processes and drives operational growth for emerging hedge funds to established global institutions. Leveraging SaaS technology and secure cloud infrastructure, the company liberates, simplifies, and connects data, making it accessible and usable across the investment chain. FINBOURNE aims to create a foundation technology that will sit at the heart of the world's investment industry and be delivered" 'as a service," providing a common infrastructure for the investment community.
Source: https://fintech.global/2023/01/30/finbourne-collects-30m-debt-facility/