EU mutual funds record-keeping platform IZNES closes its first funding round

IZNES, a blockchain record-keeping platform for EU mutual funds has secured an undisclosed strategic investment.?

Ark?a IS, Groupama AM, La Banque Postale AM, La Financi?re de l??chiquier and Lyxor AM have joined SETL and OFI AM as shareholders in the company.

INZES offers investors, asset managers, distributors, and wealth management advisers with a platform to access fund units. Through the solution, users can manage KYC processes, handle subscriptions, and redemption instructions, settle transactions and record positions.

By using the platform, clients can lower their costs, manage compliance issues and support direct communication between asset managers, companies and investors.

The company implements blockchain technology built by SETL, which provides solutions for multi-asset, multi-currency institutional payments and settlements infrastructure.

This investment comes just weeks after the company launched its blockchain platform. The company is hoping to expand its operations to France and Luxembourg later in the year.

For this next phase, the company has registered 13 more asset managers, according to the company. These new firms include Allianz GI, Amundi, Aviva Investors, BDL Capital Management, BNP Paribas AM, Candriam Investors Group, La Fran?aise, Lazard Fr?res Gestion, Mandarine Gestion, Natixis AM, Pl?iade AM, SMA Groupe and Sycomore AM.

Earlier in the month, SETL raised an investment from Credit Agricole CIB, which was the first FinTech investment made by the firm.

Copyright?? 2018 FinTech Global

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