Fundment Secures €53M to Enhance Tech Solutions for Financial Advisers

London-based Fundment, a technology platform designed for financial advisers, has raised £45M (approximately €53M) in a Series C funding round led by Highland Europe, with additional backing from ETFS Capital. This latest investment aims to propel the company’s efforts in product development, team expansion, and entry into new markets.

Fundment Secures €53M to Enhance Tech Solutions for Financial Advisers
Fundment Secures €53M to Enhance Tech Solutions for Financial Advisers

London-based Fundment, a technology platform designed for financial advisers, has raised £45M (approximately €53M) in a Series C funding round led by Highland Europe, with additional backing from ETFS Capital. This latest investment aims to propel the company’s efforts in product development, team expansion, and entry into new markets.

Highland Europe, known for its investments in growth-stage technology companies, has a strong track record in the industry. Having raised over €2.75B, the firm’s portfolio includes 45 IPOs, 150+ M&A exits, and more than 40 companies that have reached billion-dollar valuations. Commenting on the investment, Gajan Rajanathan, General Partner at Highland Europe, emphasized the increasing pressure on financial advisers to adopt modern tools. He stated, “Financial advisers face a growing need for modern technology to scale amidst increasing client sophistication and regulatory pressure. Fundment offers an easy-to-use, transparent, modern investment platform providing comprehensive access to a suite of investment options.”

Founded in 2018 by Ola Abdul, who previously worked at abrdn and BlackRock, Fundment was created to address the daily technological challenges faced by financial advisers. Abdul highlighted the platform’s understanding of the complexities within the financial advisory sector, stating, “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.”

Revolutionizing Financial Advisory with an Integrated Platform

Fundment provides financial advisers with a comprehensive suite of tools, combining core platform services, back-office solutions, discretionary investment management, and user-friendly client portals. The platform allows firms to integrate tax wrappers and customize their systems through APIs, offering flexibility and seamless operation for both outsourced and in-house investment processes.

Currently, the company supports more than 500 firms, ranging from independent advisers to large wealth management companies. Its marketplace offers a wide range of investment products from industry leaders such as Legal & General, BlackRock, and HSBC, including ETFs, domestic and international equities, and investment trusts.

Positioned for Growth and Innovation

With this new funding, Fundment aims to enhance its proprietary technology while doubling down on its mission to simplify the financial advisory process. The company has seen consistent growth, doubling its assets under management year-over-year and reaching profitability. Its efforts extend to collaboration with public sector authorities as the UK government considers reforms to the public pension system.

Authorized and regulated by the Financial Conduct Authority (FCA) (registration number 732727), and recognized as an HMRC-approved ISA plan manager, Fundment Limited continues to prioritize regulatory compliance and operational security. As the company scales, it seeks to empower financial advisers with modern tools, allowing them to dedicate more time to delivering value to their clients.