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ABN Amro joins $80m Fenergo funding round

ABN Amro joins $80m Fenergo funding round

ABN Amro has joined an $80 million funding round for Fenergo which values the Dublin-based fintech firm at about $800 million.

ABN Amro Ventures has invested $6 million, adding to a previously announced $74 million injection from New York-based DXC Technology, according to the Irish Times.

Fenergo's client lifecycle management software helps financial services firms with everything from initial onboarding to KYC/AML and regulatory compliance, to data management.

The firm claims 26 of the top 50 FS firms worldwide as clients and in the last year has added big names such as NAB and CIBC to help grow revenue by 21% in 2019.

Hugo Bongers, director, ABN Amro Ventures, says: "This investment will contribute to ABN Amro’s strategic priority to build a future proof bank and fight financial crime."

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