Finbourne Technology raises $55m to drive global expansion

By Gloria Methri

London-based investment data management firm Finbourne Technology has raised £55 million in Series B funding. Highland Europe and AVP led the fundraising, which follows a Series A funding round of £15 million in 2021.

Finbourne Technology’s solutions deliver an interconnected network of functionality and data that enables the investment community to serve clients better in an evolving market.

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.

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.

Thomas McHugh, CEO and Co-founder of Finbourne Technology said, “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, Highland Europe, said, “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.”