Fundcraft, a provider of digital infrastructure for asset management, has successfully closed a €5 million Series A funding round.
The round was led by Aperture Capital, with significant participation from SIX Fintech Ventures, the CVC arm of SIX Group, along with early supporters.
Founded in 2021, Fundcraft is a technology-driven company focused on transforming the traditional landscape of fund administration. It offers a comprehensive platform that centralises and automates various processes, facilitating seamless interaction among stakeholders while significantly reducing costs.
The newly acquired funds will primarily be allocated towards enhancing product development and supporting Fundcraft’s ambitious international expansion plans. With the growing demand for streamlined and digitised asset management solutions, Fundcraft aims to leverage this investment to further solidify its position in the market.
The asset management industry, with its reliance on outdated manual processes, presents a significant opportunity for disruption. Fundcraft’s innovative approach aims to address these inefficiencies by providing a unified platform that caters to the diverse needs of fund managers, lawyers, auditors, and other key stakeholders.
Julien De Mayer, Founder and CEO of Fundcraft, expressed his enthusiasm about the recent funding round, stating, “We’re delighted to close this round, amidst still difficult funding conditions, with great growth and business partners. This will enable us to move into new markets and add new asset classes to the platform.”
The company’s co-founder and CPO, Olga Porro, echoed these sentiments, highlighting the potential for accelerated growth and innovation. “We can now double down on growing this business, investing faster in digitising and streamlining fund administration operations,” Porro stated.
Victor Martin, co-founder and CTO of Fundcraft, emphasised the urgent need for modernisation within the asset management industry. “The Asset Management industry’s technology stack is antiquated, spreadsheet-driven, and inefficient,” Martin commented. “Our services will disrupt and disintermediate the incumbents in the industry, but it’s our tech that supercharges our digitisation engine.”
Furthermore, the collaboration between Fundcraft and its investors extends beyond financial backing. Aperture Capital, in particular, is actively involved in refining Fundcraft’s go-to-market strategy and execution, recognising the transformative potential of its model.
Ben Robinson, CEO of Aperture Group, expressed his confidence in Fundcraft’s ability to revolutionise asset servicing. “Fundcraft’s model captures both supply-side economies of scale and demand-side economies of scale,” Robinson remarked. “We’re delighted to be extending our collaboration with the Fundcraft team.”
With this substantial funding injection and strategic partnerships in place, Fundcraft is poised to redefine the landscape of asset management through its innovative technology-driven solutions.
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