Fund data and documents platform fundinfo has closed an investment from HgCapital’s Mercury Fund.
The financial terms of the deal are undisclosed but HgCapital described the investment as “significant” in a statement.
The Zurich-based company aims to facilitates the publication and dissemination of fund data and documents between asset managers and distributors of funds, including banks, insurance companies, financial advisers, family offices and fund platforms.
It counts more than 500 asset management clients and a network of more than 100 distribution partners around Europe and Asia.
Fundinfo will use the capital to expand into new fund jurisdictions and further develop its analytics offering.
It will also be used to be used to roll out its ‘openfunds’ fund data standardisation format.
The investment is HgCapital’s 12th from its Mercury Fund and sees findinfo join its portfolio of European fintech investments alongside Intelliflo, Ullink and Sequel.
Fundinfo CEO Philipp Portman said of Hg Capital: “Their experience in scaling software businesses and insight into the broader financial services landscape will be of great relevance to our company.
“We believe that this partnership will bring significant benefits to our clients as we continue to expand internationally and invest in our unique service offering.”
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