Bunch to Launch in UK
Deal News | Dec 03, 2024 | Business Cloud
Berlin-headquartered FinTech company, bunch, has officially launched operations in the UK, opening a new office in London. Specializing in providing an end-to-end operating system for private equity and venture capital funds, the company has already experienced a notable year of growth, having tripled its revenue and Assets under Administration. The strategic move comes as bunch targets the largest potential market for its services in Europe, challenging legacy providers such as Aztec, Apex, and IQEQ. The newly appointed head of the London office, Toms Herrmann, aims to grow the UK team and drive commercial growth for the company. Founded in 2021, bunch is already well-established in mainland Europe, supported by a $15.5M Series A funding. The UK launch is part of its broader plan to expand into several new countries, reinforcing its intent to become the partner of choice for pan-European funds. As the demand for private market solutions continues to rise, the launch is backed by HSBC Innovation Banking UK's support towards startups.
Sectors
- Financial Technology (FinTech)
- Private Equity and Venture Capital
Geography
- United Kingdom – The main focus of the article is the launch of bunch's UK operations and the opening of its London office.
- Europe – The article mentions bunch's strategic plan to grow within the European market, highlighting its existing presence in mainland Europe.
- Germany – Bunch is headquartered in Berlin, Germany, which is mentioned as its base of operations before expanding into the UK.
Industry
- Financial Technology (FinTech) – The article discusses a FinTech company's expansion and its offerings in financial technology solutions for private markets.
- Private Equity and Venture Capital – Bunch's services are directly targeting private equity and venture capital funds, supporting their operational and transactional processes.
Financials
- 3x – Bunch has tripled its revenue and Assets under Administration over the past 12 months.
- $15.5M – Amount raised by bunch in its Series A funding round to fuel expansion.
- 40m – Financial backing from HSBC Innovation Banking UK for CoachHub, unrelated but mentioned.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| bunch | Target/Expanding Company | Company | A Berlin-based FinTech company providing an operating system for private equity and venture capital funds. |
| Toms Herrmann | General Manager UK | Person | Former investor at Creandum and Hedosophia, appointed to lead bunch's UK operations. |
| Creandum | Former employer of Toms Herrmann | Company | A venture capital firm where Toms Herrmann previously worked. |
| Hedosophia | Former employer of Toms Herrmann | Company | A company where Toms Herrmann previously held a position. |
| HSBC Innovation Banking UK | Investor/Supporter | Company | An investor supporting bunch in its UK expansion. |
| Lord Mayor of London Alastair King | Commentator | Person | Expressed support for bunch's UK launch, highlighting London's significance as a financial hub. |
| Aztec, Apex, IQEQ, Carta | Competitors | Company | Legacy providers and specialized platforms that bunch aims to challenge in the market. |