Allocations raises $5m for its SPV software

Allocations raises $5m for its SPV software

 Allocations, which helps build special purpose vehicles (SPVs) and funds instantly, has reportedly hit a $150m valuation after the close of its $5m round.

Flex Capital, Genesis Accel, Digital Horizon, Whatif Ventures, Garage Syndicate, W5 Group, Edoardo Ermotti, Peter Ko and others joined the round, according to a report from TechCrunch.

This capital injection will enable Allocations to bolster its platform.

Allocations was created in 2019 by Kingsley Advani following difficulties he faced setting up his own investment funds. Advani could not find a tool that could create funds quick enough to remain competitive.

The company helps fund managers create SPVs. Its end-to-end platform streamlines the process, allowing quick setup, simple formation of data and legal data. It boasts the ability to raise capital quickly, earn carry, earn management fees, track progress, instant SPV setup and seamless experience.

The FinTech company recently crossed the $1bn in assets under administration on its platform.

Allocations has raised a total of $12m in funding.

In other FinTech news, private equity firm Andreessen Horowitz (a16z) led the $10m seed funding round of Payall, a bank processor for cross-border payments and international money transfers.

Founded in 2018 and based in Miami Beach, Florida, Payall describes itself as the world’s first bank processor for cross-border payments.

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