Scottish Equity Partners invests in FundApps
Scottish Equity Partners (SEP) has completed a significant growth equity investment in regulatory technology (regtech) company FundApps.
As a Compliance-as-a-Service (CaaS) business, FundApps addresses 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 per cent 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,” says 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, adds: “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.”