2 minute read | June.18.2024
FINBOURNE Technology, a London-based financial data management startup, has secured £55m ($70 million) in Series B funding to revolutionise financial data with artificial intelligence and drive its global expansion.
Orrick advised FINBOURNE on the funding round, which Highland Europe and AXA Venture Partners (AVP) led.
FINBOURNE’s solutions provide a seamless integration of functionality and data, empowering the investment community to enhance client services in an ever-changing market. Its investment management solutions and cloud-native data management platform enable investment and operations teams to boost revenue, cut costs and manage risk throughout the investment life cycle.
FINBOURNE's product suite includes the LUSID Operational Data Store, investment and accounting books of record for asset management analysis, a portfolio management platform that tracks positions, cash, P&L, and exposure, and a data virtualisation tool.
The funding will be crucial for scaling FINBOURNE's operations and continuing its mission to transform how financial institutions manage and use their data. The investment will fuel FINBOURNE’s commercial development and expansion efforts across the US, UK, Ireland, Singapore, and Australia.
CEO Thomas McHugh emphasised that with this investment, the company "can help even more global investment management, banking, and capital markets firms access and utilise a trusted and consolidated view of their financial data across the front, middle and back office."
Shawn Atkinson led the Orrick team that advised FINBOURNE, with the assistance of Patrick Driscoll, Anna Humphrey, David Walder, Lucy Mann and Rachel Conder.