FINBOURNE collects £30m debt facility


FINBOURNE Technology, which is on a mission to reduce the cost of investing and increase transparency, has collected £30m in a debt facility.

These funds are an extension of FINBOURNE’s Series A round, which closed in April 2021.

Kreos Capital, a pan-European and Israeli investment firm, supplied the funds.

This equity will allow FINBOURNE to strengthen its capital structure so it can respond to market opportunities and expand its international footprint. It plans to extend its products beyond investment management and into banking and capital markets.

The company is also looking to release new SaaS capabilities across portfolio and fund accounting to support asset servicers in their digital transformation.

One of the planned product launches is FINBOURNE Horizon, a global community of mutually beneficial integration partnerships across the wider ecosystem. The goal of the tool is to remove the barriers to external innovation by supplying clients with technology to future-proof operations, augment processes, and outsource non-differentiating activities.  

It is also bolstering its training program following market demand.

Founded in 2016, FINBOURNE’s mission is to reduce the cost of investing and improve efficiency, transparency and trust in capital markets.

Its flagship product, Modern Financial Data Stack, aims to lower the cost and complexity of investment data management.

FINBOURNE CEO and co-founder Thomas McHugh said “The partnership with Kreos Capital is a vote of confidence for FINBOURNE and our growth plans. Their support and experience in working with high-growth companies will be critical in our onward success.

“When we set out on our mission to deliver cost and operational efficiencies, we were clear we wanted to build a future where we support the financial services ecosystem to become change-ready. In six years, we have shown that we can help eliminate the risk associated with traditional operational transformation and at the same time address growing costs, so that firms can win back margins and productivity.”

In 2022, the FinTech company increased its staff count by around 50%, with it now boasting a team of 190.

One of FINBOURNE’s most recent milestones was the launch of operations in the North America and Asia-Pacific regions. This included the launch of offices in New York and Singapore.

In other WealthTech news, BMO’s wealth management division partnered with FactSet, a global financial digital platform, as its primary market data provider.

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