Fundment funding news – London-based Fintech Startup Fundment Secures €53 Million in Series C Round Funding
Jan 20, 2025 | By Kailee Rainse
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Fundment, a London-based fintech platform for financial advisers, has raised €53 million in Series C funding to improve its products, grow its team, and expand further.
SUMMARY
- Fundment, a London-based fintech platform for financial advisers, has raised €53 million in Series C funding to improve its products, grow its team, and expand further.
- Fundment combines fund management with digital investment technology. They automate the tasks involved in delivering investment products, so advisers and wealth managers can focus on keeping clients and growing their business.
The funding round was led by Highland Europe, with support from ETFS Capital.
Ola Abdul, founder and CEO of Fundment, said: “Financial advice is a heavily regulated space and it is difficult for fintech platforms to break through unless they truly understand how to manage and enable operations for their customers. For the past six years, we have been building Fundment as the all-in-one tech platform to support a financial advice firm’s every need so they can dedicate more time to delivering value to customers. We now have over 500 firms relying on Fundment, but we’re still in the early stages of our journey. I’m delighted to have the backing of Highland Europe and look forward to working with the knowledgeable team there as we scale Fundment.”
It is a platform designed to improve the investment experience for financial advisers and their clients. Using its own technology, Fundment combines essential services, back-office tools, investment management solutions, and easy-to-use portals into one system.
It helps advisers manage and track their investments, whether they’re outsourced or handled in-house. Fundment points out that older systems don’t work well with important tools, making it harder for advisers to meet the growing demand for custom, regulated, and timely services for their clients.
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It’s technology combines key services, back-office tools, investment management solutions, and easy-to-use portals into one platform, allowing advisers to manage their investment processes securely.
The platform also lets firms use tax wrappers and create custom APIs to fit their needs. This helps firms grow efficiently with automated processes while staying compliant with complex regulations.
It points out that there are few tools designed for financial advisers who work with high-net-worth clients. This is especially important because, in the UK alone, €6.5 trillion in assets will be passed down over the next 30 years, and globally, the total is expected to reach €65.8 trillion.
Financial advisers are facing higher costs and stricter regulations, which is why the global financial planning software market is expected to grow to €17.5 billion over the next 10 years.
It aims to lead this growth by creating a modern platform that provides a smooth experience for advisers and their clients. The platform offers a wide range of investments from companies like Legal & General, BlackRock, and HSBC including various types of funds and stocks.
This has helped Fundment grow its customer base to over 500 firms, from small businesses to large wealth management companies. It has also doubled its assets under management each year and reached profitability.
Fundment is also working with local authorities and their advisers to bring this advanced technology to the public sector.
Gajan Rajanathan, General Partner at Highland Europe, said: “Financial advisers face a growing need for modern technology to scale amidst increasing client sophistication and regulatory pressure. We are thrilled to be backing Ola and the team at Fundment, who have deep domain expertise in asset management and a unique perspective on the software challenges facing independent financial advisers. Fundment offers an easy to use, transparent, modern investment platform providing comprehensive access to a suite of investment options. There will be powerful tailwinds in this market over the coming years and Fundment is in an ideal position to capitalise.”
About Fundment
Fundment combines fund management with digital investment technology. They automate the tasks involved in delivering investment products, so advisers and wealth managers can focus on keeping clients and growing their business.