The London Stock Exchange has invested in cloud-based investment data management platform Finbourne.
Established in 2016 by a team of senior ex-UBS and Nomura bankers and investors, Finbourne's objective is to simplify and supersede the way investment data is traditionally stored, accessed and analysed.
As part of the deal, the UK exchange operator intends to use Finbourne's Lusid platform to build a virtual real-time data repository, consolidating multi-asset class data across its wealth management and investment solutions divisions.
Tom McHugh, CEO and co-founder, Finbourne says: “The partnership and investment from LSEG, is a key milestone for Finbourne. We’ve taken years of financial industry best practice, combined with advanced cloud-first technology, to create a data platform that empowers our clients to deliver better investment decisions."
The investment from LSEG follows a similar deal struck by Finbourne with Fidelity International in July.
Terms of the transaction were not disclosed.