Fundpath, a pivotal player in the WealthTech sector, recently confirmed a new investment milestone with a £2m funding round.
This financial boost was provided by their venture capital partner, Fuel Ventures. The fresh capital follows a previous investment of £4m made in March 2023.
Fuel Ventures has demonstrated its continued faith in Fundpath through its ‘Follow-On EIS Fund’ and the newly introduced ‘VCT Fund’. These investment vehicles are tailored to support high performers from the ‘Scale-Up EIS Fund’, a testament to Fundpath’s solid performance and potential within the tech industry.
Fundpath operates as a critical data and business intelligence provider tailored to the wealth and asset management industry. By consolidating data from over 1,000 wealth management organisations across the UK, Channel Islands, and Ireland, Fundpath facilitates improved communication and operational efficiency among fund distribution teams.
The additional funds will be utilised to accelerate Fundpath’s product development. The investment will be channelled into enhancing the technology, data resources, and human capital that underpin their services. This will undoubtedly expand the scope and depth of their offerings to the wealth and asset management sector.
With the funding, Fundpath has reached a new milestone, having onboarded 100 asset management firms, indicating a robust adoption within the UK asset management industry. This growth is a clear indicator of the effectiveness and industry-leading change driven by Fundpath.
Jamie Hinchliffe, Fundpath Co-Founder and CEO, shared his vision for the future, “Investment distribution is evolving fast, and we are continually tracking change, working tirelessly to achieve our mission of enabling a more effective and efficient marketplace. In a landscape of constantly shifting people, markets, and sentiment, Fundpath represents a single source of truth.
“Our two most recent milestones, passing the 100-client mark, and securing further investment from Fuel, demonstrate that what we’re doing is not only working, but is genuinely leading this industry change. With ongoing commitment and support from our investors, clients and partners, we are on course to reach our vision of becoming the accepted industry standard for investment distribution data intelligence.”
Fuel Ventures Managing Director Mark Pearson also commented on the investment, “We continue to see enormous potential in the Fundpath value proposition. This is a company contributing to real progress, gaining significant traction, and establishing its unique position within its marketplace. Fundpath is fast becoming the central nexus of fund distribution and we’re excited to play a part in its growth.”
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