Scottish Equity Partners’ Investment Set to Fuel RegTech Revolution with FundApps
Embargoed 00:01 Tuesday 11th May 2021
London, UK – Scottish Equity Partners (SEP) has completed a significant growth equity investment in FundApps, one of the world’s most successful Regulatory Technology (RegTech) companies.
As the first ever Compliance-as-a-Service (CaaS) business, FundApps has transformed the way investment managers deal with the regulatory burden by combining cloud technology, regulatory expertise, market data and the unique FundApps Community. Previously, compliance managers were overwhelmed by ever-increasing complexity, but services covering Shareholding Disclosure, Sensitive Industries and Position Limits have truly made compliance simple.
Today, London-headquartered FundApps has over 100 clients, ranging from hedge funds, asset managers and sell-sides, to the world’s largest sovereign wealth funds. Collectively, FundApps’ services monitor over 10% of global assets under management. Investment from SEP will drive continued product innovation and support further expansion of the international client base.
“We are delighted to have technology specialist SEP on board.” Said Andrew Patrick White, founder and CEO of FundApps. “Having bootstrapped our way since 2010, FundApps has experienced exceptional growth in recent years, but we have only just scratched the surface of the regulatory challenge. It is clear that in SEP, we have found a long-term partner who not only understands the scale of the problem faced by the global investment industry, but one who is excited to work with us to introduce transformative services to an industry crying out for further innovation”.
Angus Conroy, Director at SEP, added,
“FundApps offers an outstanding software solution to asset managers and banks, enabling automation of increasingly complex regulatory reporting requirements. The business has an excellent reputation amongst its clients for product innovation, proactive support, and cutting-edge underlying technology. New clients joining the platform benefit from access to a growing community of compliance professionals using the service. We see substantial growth potential and are delighted to be partnering with the FundApps team at this exciting time in the company’s development.”
About Scottish Equity Partners
Scottish Equity Partners (SEP) is one of Europe’s leading and most experienced technology growth equity firms, helping founders and management teams to achieve their global ambitions. Providing investment alongside expertise and access to an international network, SEP works closely with the companies it invests in to maximise business growth and value. SEP is a signatory to the UNPRI, the world’s leading proponent of responsible investment. For further information see www.sep.co.uk.
Since 2010, FundApps has been committed to making compliance simple. With a vast rule library and a dedicated in-house legal and regulatory team, FundApps enables compliance teams to respond more efficiently to regulatory change, increase certainty and reduce complexity in the compliance process.
With offices in London, New York and Singapore, the company monitors over US$13 trillion in client assets with 1000+ users from compliance teams at asset managers, hedge funds, pension funds, sovereign wealth funds and banks around the world. To learn more, visit www.fundapps.co
For more information, please contact:
Scottish Equity Partners
+44 (0)13 1510 0714
+44 (0)20 7242 8867