FINBOURNE Technology has raised £55 million in Series B funding, led by Highland Europe and AVP. The firm remains majority employee owned.
The results follow a Series A funding round of £15 million in 2021, and will fund the company’s commercial development and sales, product and marketing capabilities across the US, UK, Ireland, Singapore and Australia.
Commenting on the funding round, Thomas McHugh, CEO and co-founder of FINBOURNE Technology, said: “This funding round and support from top-tier investors will help us deliver our enhanced go-to-market strategies.
“By significantly investing in go-to-market initiatives across our key segments, we 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.”
Tony Zappala, partner at Highland Europe, added: “Over the past few years, FINBOURNE has built a revolutionary SaaS platform that is enabling many of the world’s biggest financial institutions to move from legacy, siloed solutions to a modern data architecture, allowing full, real-time visibility and optimal decision making.
“We look forward to supporting the FINBOURNE team as it expands operations globally to support more clients and continues its mission to deliver cost and operational efficiencies at scale.”
The firm is currently in the running to be trading data consolidated tape provider (CTP) for European and UK capital markets, with the tender process in both jurisdictions running from Q2 through Q4 this year. Bond CPTs are expected to be operational in the UK from Q3 2025.
READ MORE: Meet the consolidated tape contenders
Speaking to The DESK earlier this year, Neil Ryan, head of product marketing and solution messaging at FINBOURNE, stated that “What the UK and the EU are looking for has not actually been achieved anywhere else. On the fixed income side, the challenge is really to harmonise all of that data and present it in a meaningful way.”
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