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Finbourne Raises £55m to Fund Overseas Expansion

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Finbourne Technology has received a £55 million capital injection to fund the international expansion of the investment data management solutions provider’s AI-enabled data and tools service.

The London-based company raised the money in a Series B funding round led by venture capital firm Highland Europe and AXA Venture Partners (AVP). It follows a £15m cash raise in 2021 and the granting of a £30m debt facility from Kreos Capital last year.

Finbourne’s cloud-native offering, which is built on its SaaS-based LUSID platform, enables financial institutions to manage the data they need for front-to-back office processes, including portfolio and risk management. Its network of functionality and data is boosted by AI and helps institutions streamline workflows and increase revenue, Finbourne said.

“Over the past few years, Finbourne has built a revolutionary SaaS platform that is enabling many of the world’s biggest financial institutions to move from legacy, siloed solutions to a modern data architecture, allowing full, real-time visibility and optimal decision making,” said Highland Europe partner Tony Zappala.

The company plans to use the new funds to expand its sales, product and marketing capabilities in the UK, the US, Ireland, Singapore and Australia.

The Series B investment follows Finbourne’s announcement that it has deepened its engagement with post-trade operational workflow specialists Tasksize. The partnership, which began in 2021 when Tasksize was integrated into the LUSID platform, will see its expertise deployed to improve management of Finbourne clients’ post-trade processes.

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