FINBOURNE Technology has completed a secondary funding round which follows a Series B funding round of £55 million in June this year.
Thomas McHugh
The secondary funding round brings the total to over £100 million, making it one of the largest series B raises in the UK.
The development has enabled six investors to follow-on from their original investment and four additional investors to join the group of firms with a stake in FINBOURNE.
CommerzVentures and HSBC will join the FINBOURNE Board as observers.
FINBOURNE provides investment management solutions and a cloud-native data management platform.
Across the investment lifecycle, investment and operations teams can increase revenue, reduce costs and better manage risk, the firm claims.
“I am encouraged that FINBOURNE’s best-in-class SaaS solutions, top-tier clients from across the financial services industry and high-growth go-to-market strategies continue to prove attractive for investors,” said Thomas McHugh, chief executive and co-founder at FINBOURNE Technology.
“We are looking forward to working with our new partners as we significantly expand our client base as firms transform their businesses to make trusted and consolidated data core to better and faster decision making across the front-, middle- and back-office.”
Santander Corporate and Investment Banking (Santander CIB) acted as the exclusive financial advisor to FINBOURNE in this transaction.