Bunch Raises €30.1M Series B To Modernise Europe’s Private Markets Infrastructure

The round was led by Portage, with participation from Illuminate Financial. Existing investors Motive Partners, Cherry Ventures, and Fintech Collective also joined the round, along with additional angel investors. With this raise, bunch has now secured more than $58 million in total funding.

Founded in 2021 by Levent Altunel and Enrico Ohnhümmler, bunch is building infrastructure for private markets, enabling fund managers and institutional investors to manage the full fund lifecycle from digital onboarding and capital calls to fund accounting, administration, and tax reporting.

The company positions itself as a replacement for fragmented legacy systems still widely used in private markets, where many workflows rely on spreadsheets, emails and manual processes.

It argues that this is increasingly unsustainable as private markets scale, with assets under management expected to reach $32 trillion by 2030 and regulatory frameworks such as ELTIF 2.0 expanding access to alternative investments.

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bunch’s platform integrates software, domain expertise and AI-driven automation to streamline complex, multi-jurisdictional fund operations.

It can process unstructured fund documents, extract key data and maintain traceability back to source materials, while keeping human oversight in critical workflows to ensure compliance and auditability.

The company currently supports more than 150 fund managers and over 12,000 limited partners across Europe. It reports strong growth momentum with ARR increasing 300% in 2025 and net revenue retention reaching 156%.

Headquartered in Berlin with offices in London, Amsterdam, and Luxembourg, bunch works with clients including FINVIA Family Office, Passion Capital, Hummingbird VC, Merantix, Tiny Supercomputer, and Antler.

The new funding will be used to expand commercial operations across key European markets such as Germany, the UK and Luxembourg, while also investing in product development.

The focus will be on deepening AI-powered automation across core workflows like capital calls, compliance, distributions, and reporting, and building a scalable platform that supports additional asset classes and jurisdictions.

Enrico Ohnemüller, co-founder & CEO, bunch, said, “Private markets are entering a new phase of growth, but the operating infrastructure behind them has not kept pace. GPs cannot scale on spreadsheet-era infrastructure.

“We built bunch to give fund managers one platform across the fund lifecycle, designed for the complexity of operating across multiple European jurisdictions. While private markets will remain a people-driven, service-intensive industry, the right combination of specialist expertise, software and AI-native systems make fund operations more efficient, consistent and scalable. This funding allows us to deepen that model and continue modernising private markets infrastructure.”