UK RegTech Firm FundApps Secures Investment From U.S. Equity Firm FTV Capital
Compliance technology firm FundApps announced it secured a significant growth equity investment from FTV Capital to support its global expansion and product development. The deal comes as financial institutions face pressure to comply with increasingly complex regulations across multiple jurisdictions.
The investment will help FundApps scale its regulatory compliance platform, which currently serves more than 160 clients across North America, EMEA, and Asia.
Targeting Potential Acquisitions
According to the company’s announcement, FundApps plans to use the capital to enhance its product suite through organic development and potential acquisitions.
Founded in 2010, FundApps offers cloud-based software that automates shareholding disclosure and position limit monitoring. Its tools are used by asset managers, hedge funds, pension funds, and banks to stay compliant with regulatory rules spanning over 100 jurisdictions. The company’s platform covers over $29 trillion in assets under management.
You may also like: Following NinjaTrader Acquisition, Kraken Opens Access to CME-Listed Crypto Futures
“This strategic investment is a powerful validation of our differentiated offering and strong growth to date, and we’re thrilled to be partnering with the FTV team for this next chapter,” commented Andrew Patrick White, Founder and CEO of FundApps.Andrew White, Source: LinkedIn
“FTV brings not only capital to support our ambitious growth plans, but also deep expertise in our industry and access to a global network of blue-chip buy and sell-side institutions, both of which will be integral as we continue to scale our platform and strengthen our position across the financial ecosystem.”
The deal also marks a complete exit for previous investor Scottish Equity Partners. Financial terms were not disclosed.
FTV Capital Deepens Presence in European RegTech Market
FTV Capital, a U.S.-based growth equity firm with over $10 billion in assets under management, is expanding its footprint in Europe. The firm recently appointed Richard Earnshaw as partner to lead its European investments and has made several recent bets in the region, including stakes in Windward, N2F, and Validus.
Bernstein, Earnshaw, and Max Weber of FTV Capital will join the FundApps board of directors as part of the deal. FundApps is used by both buy- and sell-side firms, and includes a rule engine that integrates regulatory updates and peer-reviewed best practices. Its clients rely on the service to monitor compliance risks and meet regulatory deadlines.