The funding round was led by Expedition Growth Capital, with existing investor BlackFin Capital Partners also participating. As part of the investment, Steve Twomey, a Boston-based partner at Expedition Growth Capital, has joined ETFBOOK’s board of directors to support the company’s US expansion.
ETFBOOK is establishing a US legal entity, opening an office in New York and building a local team as it targets the American market. The company also plans to expand its presence in Hong Kong and Cracow.
ETFBOOK estimates global ETF assets under management have reached $25tn and projects this will rise to $35tn by 2030. However, the company argues that the data infrastructure supporting the market has not kept pace with its growth, leaving market participants to work across fragmented sources and rely on manual reconciliation.
The pace of ETF launches is adding to the challenge. ETFBOOK’s data shows more than 1,320 new funds have launched so far this year, including more than 350 in Europe and over 970 in the US. That equates to around seven new ETF launches per trading day.
Founded in 2020, ETFBOOK provides an ETF-specific intelligence layer covering more than 11,000 ETFs across Europe and the US. Its daily T+1 data spans flows, trading, holdings and segment analytics across both primary and secondary markets.
The company’s offering is split across three areas. Its APIs provide raw data for clients building their own tools, while its ETFBOOK Platform web application provides analytics capabilities. Its Workforce service allows clients to combine ETFBOOK’s verified data with their own or third-party sources to manage ETF data operations at scale.
The company is headquartered in Zurich and also has operations in London, New York, Paris and Cracow, which serves as its technology hub. It is also planning to establish an office in Hong Kong.
ETFBOOK will use the new capital to broaden its coverage across global ETF markets, develop its analytics capabilities and expand its teams in New York, Hong Kong and Cracow.
The company is also incorporating artificial intelligence into its infrastructure to support data ingestion, processing and distribution, with an AI-powered conversational layer being prepared for its product suite.
ETFBOOK co-founder and CEO Pawel Janus said, “Global capital has been moving out of mutual funds and into ETFs for years, and there is no turning back. What never kept up is the data and analytics underneath this growth, globally and for AI-native applications. Most firms still piece raw data together by hand, across a stack of vendors, formats, languages or conflicting versions.”
ETFBOOK co-founder and CTO Bartlomiej Igla added, “We are rethinking how financial data platforms scale and deliver value. We’ve built an intelligent architecture that automates our core operations and frees us from linear headcount growth.”
BlackFin Capital Partners investment director Romain Grimal also commented, “ETFs are reshaping asset management faster than any product the industry has seen. Issuers, distributors and investors are all racing to keep pace. As a fintech-specialist investor, we back the infrastructure that makes that growth possible, which is exactly why we’re doubling down on ETFBOOK as it turns its vision of becoming the ETF industry’s global intelligence layer into reality.”
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