FINBOURNE Technology, a prominent provider of investment management solutions and a cloud-native data management platform, has successfully closed a secondary funding round, raising over £100 million.
This latest funding follows a Series B round of £55 million completed in June 2024, positioning it as one of the largest Series B raises in the UK.
The new funding includes follow-on investments from six existing investors and adds four new ones. Notably, CommerzVentures and HSBC will join the FINBOURNE Board as observers, underscoring the strategic importance of this investment.
Thomas McHugh, CEO and Co-founder of FINBOURNE, expressed enthusiasm about the company’s progress: “Our SaaS solutions, combined with top-tier clients and a robust growth strategy, continue to attract significant investment. We are excited to collaborate with our new partners to expand our client base and drive transformative changes in data management across the investment sector.”
FINBOURNE’s flagship SaaS-based LUSID platform offers a comprehensive range of services including portfolio management, fund accounting, and compliance. Its interoperable and scalable data management system is designed to democratize data with embedded entitlements, lineage, and utilization metrics. This infrastructure supports advanced AI and ML capabilities, helping clients adapt to AI-driven efficiencies.
Heiko Schwender, Managing Partner at CommerzVentures, praised FINBOURNE’s approach: “FINBOURNE has created a crucial data platform that addresses data fragmentation and prepares clients for future AI developments. Their innovation aligns perfectly with the fintech advancements we support.”
Over the past year, FINBOURNE has expanded its client base, securing contracts with major financial institutions such as Northern Trust, Omba Advisory, and Pension Insurance Corporation (PIC). The company’s solutions are designed to enhance revenue, reduce costs, and improve risk management across the investment lifecycle.
Fiona Horsewill, Global Head of Securities Services at HSBC, emphasized the strategic fit: “FINBOURNE’s platform aligns with our vision to enhance asset servicing and streamline the post-trade ecosystem. We look forward to working together as FINBOURNE continues its growth.”
Santander Corporate & Investment Banking acted as the exclusive financial advisor for FINBOURNE in this transaction.
FINBOURNE Technology delivers an integrated network of functionality and data designed to enhance client service in the dynamic investment market. Its cloud-native platform helps investment and operations teams increase revenue, reduce costs, and manage risk effectively. Operating in North America, the UK, Europe, Asia, and Australia, FINBOURNE serves leading financial firms including Fidelity International, London Stock Exchange Group, Baillie Gifford, and Northern Trust.
