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Wealth management platform FNZ raises $1.4bn

Wealth management platform FNZ raises $1.4bn

FNZ has raised $1.4 billion in an equity funding round that values the wealth management platform at more than $20 billion.

Canada Pension Plan Investment Board and Motive Partners participated in the mega-round, one of the largest ever in the wealth management sector.

FNZ works with over 650 financial institutions and 8000 wealth management firms, serving over 20 million customers, with assets under administration of over $1.5 trillion.

Las year, the global behemoth was forced by the UK's Competition and Markets Authority to sell off rival investment platform GBST.

Adrian Durham, CEO, FNZ, says: "Our growth trajectory shows no signs of slowing down, and we are delighted to welcome CPP Investments and Motive Partners to FNZ and look forward to working with them as we further invest in and enhance our core platform, delivering substantial incremental benefits to our customers and their clients."

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