Fundpath, a company developing software to connect fund buyers with asset management companies, has landed a £4m investment from Fuel Ventures.
Established in 2021, Fundpath claims it harnesses the power of collective data, AI and technology to modernise the fund-buying process.
The firm said this can be more insightful with relevant engagement improving efficiency, reducing wastage and promoting a low carbon future.
The software aims to save the time of fund buyers’ as they no longer have to contact individual asset management firms and receive irrelevant offers.
Fundpath will use the recent investment to continue developing its software as well as investing in new technologies.
Fundpath CEO and co-founder Jamie Hinchliffe said, “Our mission is to bridge the information disconnect between the buyers and sellers of funds. Over the last 18 months, we’ve been working even closer with the wealth and asset management industry to do just that.”
Fuel Ventures general partner Mark Pearson added, “With Fundpath, we see a huge opportunity to positively impact an important industry, by solving a genuine problem through technology and data.
“The outstanding feedback we have received from wealth managers and asset managers about what Fundpath is creating, and the scale of the progress that has been made in such a short period, was enough to convince us that we should be part of their journey.”
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