UK fintech investment & funding round-up: Alveo, Detected, & London House Exchange
FinTech Futures brings you a handy round-up of UK fintechs that are the latest lucky recipients of funding. This week these are Alveo, Detected, and London House Exchange (formerly Property Partner).
Alveo, a cloud-based data management, analytics, and Data-as-a-Service provider for the financial services industry, has entered into a definitive agreement to receive a majority investment from Symphony Technology Group (STG).
Alveo supports access to mastered market and reference datasets for business applications and end-users including trading, portfolio management, risk, and compliance workflows.
Founded in 1991 and headquartered in London, Alveo has operations in the Netherlands, Singapore, and New York. Its clients include investment banks, asset managers, and market infrastructure institutions across 18 countries.
London-based fintech Detected has secured £2.5 million in its latest financing round, featuring investment from Thomson Reuters Ventures, Love Ventures (which led the firm’s £1.5 million Seed Follow On investment in March 2022), Maropost Ventures, and Emergevest.
Angels including Huw Slater (chief operations officer of TravelPerk), Stephen Garland, (former chief technology and product officer of TrustPilot), and chairman Rob Barnett (former chief operations officer at RBS) also participated in the round.
Founded in 2020, the start-up says it enables “frictionless” global business onboarding by creating “a detailed and accurate profile of any business in the world” – fixing the know your business (KYB) process that is “notoriously slow, manual, and unfit for purpose”.
The funding will be used for further product enhancement, leadership hires, and expansion in the US.
Property Partner, a London-based fractional property investment platform, has announced an additional £2.4 million investment from its US parent, digital homeownership company Better, and a new name.
The company is now known as London House Exchange (LHX).
LHX says it has £120 million of fractionalised property assets under management and over 8,000 investors from over 80 countries.
Since its inception in 2014, £55 million of property shares have been traded on the FCA-regulated exchange, “the only one of its kind for individual residential properties”, the firm claims.
LHX was acquired by Better in 2021.