Scottish Equity Partners invests in compliance firm FundApps
Compliance-as-a-Service (CaaS) fintech FundApps has received an undisclosed investment from VC firm Scottish Equity Partners (SEP).
FundApps says it can “transform” the way investment managers handle their regulatory requirements.
It combines cloud technology, regulatory expertise, market data and “the unique FundApps Community”.
The firm claims to have more than 100 clients, including hedge funds, asset managers, and sell-side companies. It says its service monitors 10% of global assets under management.
“Having bootstrapped our way since 2010, FundApps has experienced exceptional growth in recent years,” says founder and CEO Andrew Patrick White.
He adds: “We have only just scratched the surface of the regulatory challenge. It’s clear that in SEP we have found a long-term partner.”
“FundApps offers an outstanding software solution to asset managers and banks,” says the VC’s director, Angus Conroy. “The business has an excellent reputation amongst its clients for product innovation, proactive support, and cutting-edge underlying technology.”