Siepe, a pivotal player in the FinTech sector, recently announced a substantial $30m Series B funding boost, led by strategic investor WestCap.
This funding round marks a significant milestone for the company, positioning it for further expansion amidst the burgeoning private credit and CLO markets.
WestCap, a prominent operating and investing firm with a robust $6bn in assets under management, is at the forefront of this financial injection. The collaboration between Siepe and WestCap is set to empower the former’s ambitious multi-product roadmap, notably enhancing its AI and Machine Learning capabilities to streamline operations and improve data accuracy across the financial ecosystem.
At its core, Siepe provides innovative software and services tailored for private credit and CLO managers. Since its inception in 2012, the company has been committed to transforming investment management practices. Its solutions offer comprehensive data management, enabling seamless integration and real-time insights that support critical decision-making processes across various business stages.
The newly acquired funds are earmarked for broadening Siepe’s product offerings and fortifying its strategic partnerships. These enhancements aim to address the escalating demands and complexities within the private credit domain, ensuring superior service delivery and operational efficiency.
Beyond product development, Siepe has outlined plans for leveraging this investment to refine their client services and expand their market footprint. The company’s recent activities underscore its growth trajectory, having added significant deals and expanded its asset administration significantly in the first half of 2024.
Siepe CEO and Founder Michael Pusateri expressed optimism about the future, stating, “The new capital will help us continue our momentum in deploying integrated solutions and best-in-class service for fund managers in the private credit and broadly syndicated bank debt sector,” said Michael Pusateri, CEO and Founder of Siepe. “Our mission is to help credit managers better leverage their data to reduce operational risk and increase alpha.”
The funding round also coincides with the strategic appointment of Mark Schultis as President of Siepe. Schultis, who has nearly two decades of experience in the credit and CLO sectors, brings a wealth of knowledge and expertise to his new role, enhancing the company’s leadership capabilities.
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