Fundment, a tech platform for monetary advisors, has raised $55.4M in Form C investment to scale its staff, product building, and day enlargement.
The investment spherical was once led by way of Highland Europe (which just lately invested in 9fin and Finbourne Generation), with participation from ETFS Capital. The funding will likely be worn for scaling operations similar to product building, scaling the staff, and day enlargement.
Meet Fundment
Introduced in 2018 by way of skilled asset supervisor Ola Abdul, up to now with Aberdeen Asset Control and BlackRock, Fundment was once created to resolve monetary advisers’ day-to-day era demanding situations.
The trouble of integrating third-party legacy infrastructure with core programs has put monetary advisers underneath extra power than ever to handover bespoke, regulated, and well timed products and services to their consumer bottom.
“Financial advice is a heavily regulated space, and it is difficult for fintech platforms to break through unless they truly understand how to manage and enable operations for their customers,” Abdul mentioned.
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Fundment’s proprietary era integrates core platform products and services, again place of business gear, discretionary funding control answers, and user-friendly portals in a one-stop store the place advisers can securely function and observe their funding processes.
The platform permits corporations to make use of tax wrappers and develop their APIs to customise integrations and extensibility. This is helping corporations scale successfully with computerized processes future adhering to advanced rules that force vital consumer worth.
Fundment’s Remarkable Consumer bottom
The corporate’s market platform has get entry to to a complete territory of investments from Felony & Basic, BlackRock and HSBC, OEICs and Unit Trusts, Funding Trusts, ETFs, and home and global equities.
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This has enabled Fundment to lend a rising buyer bottom of over 500 corporations, together with the whole thing from sole buyers to wealth control firms, double its belongings underneath control year-on-year and succeed in profitability.
“We now have over 500 firms relying on Fundment, but we’re still in the early stages of our journey. I’m delighted to have the backing of Highland Europe and look forward to working with the knowledgeable team there as we scale Fundment,” Abdul added.
As the United Kingdom executive proposes to overtake the United Kingdom family pension machine, Fundment may be running with native government and their advisers to handover the family sector with the similar fashionable structure that the non-public sector makes use of.
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Talking at the fundraise, Gajan Rajnathan, Basic Spouse at Highland Europe, mentioned, “Financial advisers face a growing need for modern technology to scale amidst increasing client sophistication and regulatory pressure. We are thrilled to be backing Ola and the team at Fundment, who have deep domain expertise in asset management and a unique perspective on the software challenges facing independent financial advisers.”
