Fundment raises £45m to revolutionize tech for financial advisers
Deal News | Jan 20, 2025 | Business Cloud
Fundment, a tech platform for financial advisers, has successfully raised £45 million in Series C funding led by Highland Europe, with additional participation from ETFS Capital. The funding will be channeled into product development and expanding their team. Founded in 2018 by asset manager Ola Abdul, Fundment seeks to address the technological challenges faced by financial advisers through its proprietary platform that integrates core services, back office tools, and investment management solutions. This enables financial advice firms to efficiently manage investments while adhering to regulatory obligations. With over 500 firms already using Fundment's platform, the funding will help enhance its offerings and expand its market presence. Highland Europe's support underscores Fundment's leadership in providing technologically adept solutions to the ever-evolving and heavily regulated financial advice sector.
Sectors
- Financial Technology (Fintech)
- Asset Management
Geography
- United Kingdom – Fundment is based in the UK, and the funding round involves UK-based investors and operations, making this geography highly relevant to the article.
Industry
- Financial Technology (Fintech) – Fundment operates within the fintech industry, offering technology solutions specifically designed for financial advisers, which aligns with the broader objectives of leveraging technology to improve financial services.
- Asset Management – As Fundment's platform facilitates investment management, it's heavily involved in asset management, providing tools for financial advisers to manage investments efficiently.
Financials
- £45 million – The total amount Fundment raised in its Series C funding round.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Fundment | Target | Company | A tech platform for financial advisers, aiming to address their technology and operational challenges. |
| Highland Europe | Investing Company | Company | Led the Series C funding round, providing financial backing and expertise to Fundment. |
| ETFS Capital | Investing Company | Company | Participated in the Series C funding round alongside Highland Europe. |
| Ola Abdul | Founder and CEO | Person | Founder of Fundment, with a background in asset management at abrdn and BlackRock. |
| Gajan Rajanathan | General Partner at Highland Europe | Person | Expressed confidence in Fundment's ability to leverage technology for financial advisers. |