Quovo picks up $10m for financial data analysis

Financial data platform Quovo has raised $10m in a Series B round of funding to fuel the growth of its analytics offerings.

F-Prime Capital and Napier Park Financial Partners co-led the round with existing backers FinTech Collective and Long Light Capital also participating.

The company’s APIs, applications and enterprise solutions are designed to enable financial institutions to optimise client relationships and drive insights.

Quovo initially targeted the wealth management industry but has since expanded into other finance verticals including banking, lending and insurance.

The firm’s CEO and co-founder Lowell Putnam commented: “We’re excited to see the continued traction and adoption of our services across the financial services and FinTech space.

“Our mission to help firms build strong, data-driven client relationships is shared by the smallest startups and some of the country’s largest institutions.

“Investors are committed to helping Quovo flourish, validating our success to-date and helping us drive the innovation our customers demand. This new funding will enable us to build upon our success and help anyone trying to innovate or disrupt within financial services.”

F-Prime Capital partner David Jegan and Napier Park principal Ned May will both join the company’s board as a result of the deal.

The new round takes Quovo’s total funding to more than $15m.

Copyright © 2017 FINTECH GLOBAL

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