FTV invests in FundApps
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With industry-leading shareholding disclosure and position limit monitoring capabilities, FundApps will leverage this investment to accelerate growth through the expansion of its product offering—both through organic development and opportunistic inorganic growth. Through these initiatives, FundApps aims to enhance its position as a trusted partner for regulatory compliance needs of buy-side and sell-side clients.
The ever-evolving regulatory landscape and increased volume of cross-border trading activity, taken together, are compounding the challenge of staying compliant across jurisdictions. At the same time, investment managers and sell-side firms alike are under pressure to contain costs and do more with less. Faced with expanding regulatory demands and complexity, capital market participants are rapidly turning to software solutions to manage regulatory compliance more effectively. Today, the vended market for shareholding disclosure and position limits is sizable and growing quickly against a significant adoption curve.
Founded in 2010, FundApps automates regulatory compliance for financial institutions and is widely recognized as a best-in-class platform for shareholding disclosure and position monitoring and reporting. FundApps differentiates by operating agnostically across both buy and sell-side institutions, enabling it to serve a wide market of asset and wealth managers, hedge funds, capital allocators and banks globally. FundApps currently serves over 160 clients across North America, EMEA and Asia, representing more than $29 trillion in combined assets under management. Strengthened by a vast and growing client community, FundApps' rules and calculation engine incorporates industry best practices and provides enterprise-grade compliance with high-integrity assurance that regulatory obligations are consistently met.
'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,' said Andrew Patrick White, Founder and CEO of FundApps. '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.'
'As capital markets continue to undergo rapid technology change, FundApps has established itself as a mission-critical platform providing financial institutions with the regulatory assurance they need to navigate an increasingly complex and evolving landscape,' said Brad Bernstein, managing partner at FTV Capital. 'We are confident that the company's consistent growth at scale and exceptional customer retention – combined with FTV's track record of scaling capital markets services businesses – will make this partnership a powerful proponent of FundApps' continued momentum.'
"FundApps' reputation in the financial ecosystem speaks for itself, as evidenced by its blue-chip client base and increasing penetration of top-tier institutions," added Richard Earnshaw, partner at FTV Capital. 'Against a growing market backdrop for trading regulatory compliance solutions, we have strong conviction that FundApps occupies a leading position today, and are confident that our shared vision for growth will position the company to expand in this critical sector moving forward.'
This investment comes during a pivotal year for FTV in Europe, following notable recent investments in Windward, N2F, Validus and Orbus Software. As part of the transaction, Brad Bernstein, Richard Earnshaw and Max Weber joined FundApps' board of directors.
The transaction represents a full exit for existing growth equity investor Scottish Equity Partners (SEP). Arma Partners served as financial advisor to FundApps, and Raymond James served as financial advisor to FTV Capital. Financial terms were not disclosed.
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