Author: FINBOURNE– finbourne.com
London, New York, Singapore, 30 January 2023 – FINBOURNE Technology today announces its partnership with market-leading debt provider, Kreos Capital, to secure up to a £30 million debt facility. The funding forms an extension to FINBOURNE’s Series A round (April 2021). The partnership with Kreos Capital further strengthens FINBOURNE’s efficient capital structure, enabling it to meet growth plans and swiftly respond to market opportunities, as it expands its international footprint.
The funding follows six successful years for the fintech and LUSID®, its flagship Modern Financial Data Stack solution, designed to lower the cost and complexity of investment data management. Serving a wide spectrum of the Financial Services industry, the scale-up is a trusted partner to Fidelity International, London Stock Exchange Group (LSEG), Baillie Gifford and Railpen among other global institutions. FINBOURNE will leverage the debt facility to grow its value proposition beyond its investment management origins and into banking and capital markets, while also building out global capacity and capability across the business.
Founded in 2016 with seven founders and one mission; to reduce the cost of investing and improve efficiency, transparency and trust in capital markets, FINBOURNE has heavily focussed on talent acquisition. In 2022, it increased headcount by nearly 50%, with total employees now standing at over 190 worldwide. Most recently, it has launched operations in the North America and Asia-Pacific regions, announcing new offices in New York and Singapore. These new locations enable FINBOURNE to deliver a 24/7 follow-the-sun support model to its global client base, while being able to target new opportunities more closely on the ground.
FINBOURNE expects to build on this strong foundation and global growth, by broadening the coverage of its award-winning investment data management solutions; LUSID®, LUSID PMS™ and Luminesce®. This includes developing new SaaS capabilities across portfolio and fund accounting to support asset servicers in their digital transformation.
Planned developments also include the launch of FINBOURNE Horizon; a global community of mutually beneficial integration partnerships across the wider ecosystem, designed to meet clients’ evolving needs. It aims to remove the barriers to external innovation, by giving clients access to compelling technologies to future-proof operations, augment processes, and outsource non-differentiating activities.
In parallel, the fintech has invested in building out its training program in response to clients and consultant demand. The FINBOURNE University program and accreditation scheme is a key milestone for the company’s market maturity. Usually a feature of larger incumbent providers, it will form a key deliverable as part of FINBOURNE’s operations in new markets and will further support fast-growing engagement with specialist and global consulting houses.
Tim Fenwick, Principal at Kreos Capital commented: “We are pleased to partner with FINBOURNE at this exciting time in its growth journey. Together with a strong balance sheet and pipeline, we are confident that our investment will further fuel FINBOURNE’s strategy and execution, as it widens the net and delivers change-ready technology and data management tools, critical to supporting global financial institutions in this fast-moving economic landscape.”
Thomas McHugh, CEO and Co-Founder at FINBOURNE Technology, adds: “The partnership with Kreos Capital is a vote of confidence for FINBOURNE and our growth plans. Their support and experience in working with high-growth companies will be critical in our onward success. When we set out on our mission to deliver cost and operational efficiencies, we were clear we wanted to build a future where we support the financial services ecosystem to become change-ready. In six years, we have shown that we can help eliminate the risk associated with traditional operational transformation and at the same time address growing costs, so that firms can win back margins and productivity.”
“With disruption now a constant force, achieving this, through clean, interoperable data has never been so vital and this is validated by the growing client community we are empowering. The driving force behind our achievements, and value creation is our team. As we continue to pursue a global remit, we are committed to setting a high standard in the market, not only through the continued provision of deep technology but also by investing in our domain expertise, skills and knowledge, supporting our clients with the best talent in the market.”
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About FINBOURNE Technology
FINBOURNE Technology was founded in December 2016 with a mission to reduce the cost of investing and increase transparency and trust in capital markets. In six years, we have grown from seven founders to over 190 employees, with operations in North America and Asia-Pacific. Leveraging SaaS technology and a secure cloud infrastructure, our solutions LUSID®, LUSID PMS™ and Luminesce® are designed to liberate, simplify and connect data, for emerging hedge funds, through to established global investment, banking and capital markets institutions.
Delivering an interoperable Modern Financial Data Stack, we offer cutting-edge infrastructure that sits at the heart of global capital markets, reducing operational complexity and total cost of ownership. FINBOURNE is trusted by some of the world’s leading financial services firms, including Fidelity International, London Stock Exchange Group, Baillie Gifford and Railpen. www.finbourne.com
About Kreos Capital
Kreos Capital is the leading growth debt provider in Europe and Israel, backing high-growth companies through every stage of their life-cycle. Kreos targets investments in all areas of the Technology and Healthcare sectors and, to date, has committed €5.1 billion in more than 750 portfolio company transactions, across 18 countries. With over €2.5 billion in current funds under management Kreos can invest between €2 million and €100 million per transaction in both public and private companies across all stages.