FundApps, a leading compliance monitoring and reporting technology platform, secured a growth equity investment from FTV Capital.
FundApps plans to leverage this investment for expanding its product offering. This expansion will occur through both organic development and opportunistic inorganic growth initiatives. Consequently, FundApps seeks to enhance its role as a trusted partner for buy-side and sell-side clients' regulatory compliance needs.
The financial sector faces an ever-evolving regulatory landscape and increased cross-border trading. These factors compound the challenge of maintaining compliance across jurisdictions. Investment managers and sell-side firms are increasingly adopting software solutions for effective regulatory compliance. They are moving away from manual processes or less integrated systems offered by companies like AxiomSL, Wolters Kluwer Financial Services, or Regnology. The market for shareholding disclosure and position limits is growing rapidly.
Founded in 2010, FundApps automates regulatory compliance for financial institutions. It operates as a cloud-native RegTech SaaS platform. FundApps serves over 160 clients globally, managing more than $29 trillion in combined assets. Its platform differentiates by operating agnostically across both buy and sell-side institutions.
FTV Capital, a sector-focused growth equity firm, brings deep industry expertise in capital markets technology. The firm also provides access to a global network of blue-chip financial institutions. This partnership will be integral for FundApps as it scales its platform.
Brad Bernstein, Richard Earnshaw, and Max Weber joined FundApps’ board of directors following the transaction. This investment marks a full exit for existing growth equity investor Scottish Equity Partners (SEP). Arma Partners advised FundApps, while Raymond James advised FTV Capital.
