Finbourne: Fintech Startup Raises $70m in Global Expansion Push
Finbourne, a London-based fintech company that helps large financial services businesses manage data, has raised $70 million in a Series B funding round.
The company, which was founded in 2016, offers its software to companies that work across capital markets functions, including portfolio management, fund accounting, process automation, order management, and compliance with its software.
“The wider fintech market has been a bit doom and gloom but we operate at the capital markets end of things, building complex products,” Finbourne CEO Thomas McHugh told Business Insider.
“Given the macro trends and a push for efficiencies, we haven’t struggled in the ways others have. We’re seeing more people come to us given the significant changes in cost structures and now have some of the biggest names in the world on the platform,” he continued.
McHugh said Finbourne benefited from a squeeze on asset-management fees and increased consolidation, which has driven funds to seek greater efficiencies.
The Series B was led by Highland Europe alongside Axa Venture Partners and follows a $19 million Series A in 2021.
“It’s a brutal market to be fundraising in but, with this round, we’ve doubled our valuation, have no funky terms, and have found the right partners,” McHugh said.
The funding will go toward aggressive expansion plans as the company brings in sales, marketing, and go to market teams in the US, UK, Europe, and Australia. The company has around 250 staff and will hire another 50 with the funding, McHugh said.
Check out Finbourne’s TK slide pitch deck below:
