Integrated Portfolio Solutions said to raise $3m funding

Financial institution administration platform Integrated Portfolio Solutions has reportedly received around $3m in funding.

The investment was led by Aura Venture Fund and saw participation from a range of other undisclosed investors, according to reports from Australia Financial Review.

Integrated Portfolio Solutions is a portfolio management solution for financial institutions, which utilises an end-to-end solution that simplifies the processes from investment execution and portfolio administration.

The solution helps with portfolio administration, CRM functionality, instruction management, reporting, document storage and SMSF Administration, to help efficient client management.

This equity will be used by the company to support the development of its customer resource management, self-managed superannuation fund reporting and investment platform, the article states. IPS is also looking to expand its operations to Asia, Singapore and Hong Kong.

The FinTech sector in Australasia has seen a lot more interest from investors this year, with the first three quarters of this year seeing more than double the total raised in the whole of 2016. So far this year, the continent has raised $440m across 25 deals; however, 2016 saw $207m deployed through 43 deals.

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