Fundment, the leading tech platform for financial advisers, has successfully raised £45m in a Series C funding round.
The investment was led by Highland Europe, with significant participation from ETFS Capital. This new infusion of capital underscores the investors’ confidence in Fundment’s vision and its potential for further growth.
Fundment, founded in 2018 by Ola Abdul, a former asset manager with abrdn and BlackRock, addresses the persistent technology challenges faced by financial advisers. The company’s platform is renowned for its comprehensive integration capabilities, combining core platform services with back-office tools, discretionary investment management solutions, and user-friendly client portals. This integration facilitates a seamless operation for advisers to manage and monitor their investment processes efficiently.
The funds from this round will be utilized to further enhance product development, scale the team, and prepare for future expansion. As financial advisers navigate increasingly complex regulatory landscapes and client demands, Fundment’s technology aims to provide them with the tools necessary to deliver bespoke and regulated services efficiently.
In addition to the core offerings, Fundment’s platform supports a variety of tax wrappers and allows firms to build their own APIs for customized integration and scalability. This adaptability is crucial for firms aiming to grow without being hampered by the limitations of outdated systems.
Ola Abdul, founder and CEO of Fundment, remarked on the investment, “Financial advice is a heavily regulated space and it is difficult for FinTech platforms to break through unless they truly understand how to manage and enable operations for their customers. For the past six years, we have been building Fundment as the all-in-one tech platform to support a financial advice firm’s every need so they can dedicate more time to delivering value to customers. We now have over 500 firms relying on Fundment, but we’re still in the early stages of our journey. I’m delighted to have the backing of Highland Europe and look forward to working with the knowledgeable team there as we scale Fundment.”
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