Cloud-based investment data management platform Finbourne has raised £55 million in Series B funding.
This latest round was led by Highland Europe and AVP and follows a Series A funding round of £15m in 2021.
The firm says investment will fund the next phase in its commercial development, including expanding its sales, product and marketing capabilities in the US, UK, Ireland, Singapore and Australia.
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.
Its SaaS-based Lusid platform delivers front-to-back functionality across every asset class for portfolio management, fund accounting, order management and compliance.
In the last 12 months, Finbourne has announced a string of new client wins across the global investment management, banking and capital markets sectors, including Northern Trust, Omba Advisory and the Pension Insurance Corporation (PIC).
Imran Akram, general partner, AVP says: “When the team first showed me in 2020 that they could integrate investment data from the full universe of assets held by managers into a single platform, they had me hooked. Today this is a clear differentiator and especially important to the emerging AI wave. We are excited to help Finbourne as they expand their product suite and bring its benefits to a broader set of financial services customers.”